10:09 AM EST - First Quantum Minerals Ltd. : reported that its fourth-quarter net earnings were $227.2 million U.S., compared to a loss of $491.6 million U.S. in the same quarter last year. On a per share basis, net income was $2.67 U.S., compared to a loss of $7.19 U.S. in the year-ago quarter. Net sales for the quarter were $656.3 million U.S., up from $12.4 million U.S. in the prior-year quarter. The Company expects its 2010 production to increase to 385,000 tonnes of copper and 240,000 ounces of gold. The group C1 cost of production is expected to remain unchanged at $0.97 U.S. per pound of copper. First Quantum Minerals Ltd.
shares T.FM are trading up $1.59 at $89.77.
