First Quantum profit more than doubles on higher copper, gold sales

Tue Mar 5, 2013 5:14pm EST
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March 5 (Reuters) - First Quantum Minerals Ltd, which is engaged in a hostile takeover bid for rival base metal miner Inmet Mining Corp, reported a 146 percent jump in quarterly profit helped by higher copper and gold sales.

Net earnings attributable to shareholders rose to $186.7 million, or 39 cents per share, in the fourth quarter, from $76 million, or 16 cents per share, a year earlier.

Revenue rose 37 percent to $774.6 million.