Inmet Mining Corporation -- Moody's places First Quantum Minerals' ratings on review for downgrade

London, 03 December 2013 -- Moody's Investors Service has today placed all the ratings of First Quantum Minerals ('FQM'; rated Ba3) on review for downgrade following the disclosure by the company, in a press release dated 27 November 2013, that a dispute has arisen with certain bondholders who are claiming that a breach of terms has occurred under the indentures of two bonds of FQM (Akubra) Ltd ('FQM Akubra') totalling nearly $2 billion. FQM Akubra is a subsidiary of FQM that amalgamated with Inmet Mining Corporation ('Inmet') earlier this year following the completion of a tender offer for Inmet made by FQM.

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