First Quantum adjusted earnings rise on higher shipments

Mon May 6, 2013 5:27pm EDT
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TORONTO May 6 (Reuters) - Canadian base metal miner First Quantum Minerals Ltd reported a rise in adjusted earnings on Monday, helped by higher sales volumes and its recent acquisition of Inmet Mining Corp.

Net earnings attributable to shareholders fell to $112.4 million, or 23 cents a share, from $1.34 billion, or $2.81, a year earlier, when results were boosted by a legal settlement.

Excluding unusual items, earnings rose to $153.8 million, or 32 cents a share, from $119.0 million, or 25 cents. Sales revenue rose to $901.2 million from $728.7 million.