Profile: Lundin Mining Corp (LUN.TO)
15 Jul 2019
Lundin Mining Corporation, incorporated on July 31, 2007, is a diversified base metals mining company. The Company is engaged in mining, exploration and development of mineral properties, primarily in Chile, the United States, Portugal, Sweden and the Democratic Republic of Congo (DRC). The Company's segments include Candeleria, Chapada, Eagle, Neves-Corvo, Zinkgruvan, Tenke Fungurume and Other. The Company's geographical segments include Europe, Asia, South America and North America. The Company is engaged in producing copper, nickel and zinc. The Company's operating assets include the Eagle mine located in the United States, the Neves-Corvo mine located in Portugal and the Zinkgruvan mine located in Sweden. The Company also owns the Candelaria and Ojos del Salado mining complex (Candelaria) located in Chile. The Company holds an indirect equity interest in the Tenke Fungurume mine located in the DRC and the Freeport Cobalt Oy business (Freeport Cobalt), which includes a cobalt refinery located in Kokkola, Finland. The Company is engaged in drilling on the Elida porphyry project. The Company is conducting project evaluation work in Eastern Europe, including in Serbia and Romania.
The Company's Candelaria Mine includes Compania Contractual Minera Candelaria (CCMC) and Compania Contractual Minera Ojos del Salado (CCMO), and is located near Copiapo in the Atacama Province, Region III of Chile. CCMC consists of an open pit mine and an underground mine, Candelaria Norte, providing copper ore to an on-site processing plant. CCMO consists of over two underground mines, Santos and Alcaparrosa, and the Pedro Aguirre Cerde (PAC) processing plant. The Santos mine provides copper ore to the PAC plant, while ore from the Alcaparrosa mine is treated at the CCMC plant. The CCMC plant has a processing capacity of approximately 24.5 million tons per annum (mtpa), and the PAC plant has a capacity of approximately 1.3 mtpa, both producing copper in concentrate. The primary metal is copper, with gold and silver as by-product metals. It has Los Diques tailings dam facility.
Chapa is an open pit copper-gold mine producing copper concentrate. Located in northern Goias State, Chapada is situated approximately 320 km north of the state capital of Goiania and 270 km northwest of the national capital of Brasilia, at low elevation of approximately 340 to 400 m above sea level.
The Eagle Mine consists of the Eagle underground mine, located approximately 55 kilometers northwest of Marquette, Michigan, the United States and the Humboldt mill, located 45 kilometers west of Marquette in Champion, Michigan. The mill has a processing capacity of approximately 0.7 mtpa, producing nickel and copper in concentrates. The primary metal is nickel, with copper, cobalt, gold, and platinum group metals as by-product metals. An Inferred Resource is issued for the Eagle East project.
The Neves-Corvo consists of an underground mine and an on-site processing facility, located 100 kilometers north of Faro, Portugal, in the western part of the Iberian Pyrite Belt. The copper plant has a processing capacity of approximately 2.5 mtpa, producing copper in concentrate, and the zinc plant has a capacity of approximately 1.2 mtpa with the ability to process zinc or copper ore, producing zinc or copper in concentrate. The primary metal is copper, with zinc, lead and silver as by-product metals. It has the Zinc Expansion Project.
The Zinkgruvan mine consists of an underground mine and on-site processing facilities, located approximately 250 kilometers south-west of Stockholm, Sweden. The zinc plant has processing capacity of approximately 1.1 mtpa, producing zinc and lead in concentrate, and the copper plant has capacity of approximately 0.3 mtpa. It processes copper or zinc-lead ore. It is engaged in producing copper, or zinc and lead concentrates. The primary metal is zinc, with lead, silver and copper as by-products.
The Company holds an equity interest in the Tenke Fungurume mine. Tenke Fungurume consists of an open-pit mine and on-site processing facilities located in the southeast region of the Democratic Republic of Congo. Tenke has an annual nominal production capacity of approximately 190 kilo tones per annum (ktpa) of copper cathode and 15 ktpa of cobalt in hydroxide. The primary metal is copper, with cobalt as a by-product metal.
Lundin Mining Corp
150 King St W Suite 1500,
P.O Box 38
TORONTO ON M5H 1J9
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