Lundin Mining Announces Closing of Acquisition of Kokkola Cobalt Refinery

Lundin Mining Announces Closing of Acquisition of Kokkola Cobalt Refinery 
TORONTO, ONTARIO -- (Marketwire) -- 03/29/13 -- Lundin Mining
Corporation (TSX:LUN)(OMX:LUMI) ("Lundin Mining" or the "Company") is
pleased to announce the closing of the previously announced
acquisition of the Kokkola cobalt chemical refinery located in
Finland and related sales and marketing business (collectively
"Kokkola") from OM Group, Inc.  
As previously disclosed, Lundin Mining will hold an effective 24
percent ownership interest in the Kokkola joint venture, with
Freeport-McMoRan Copper & Gold Inc. ("Freeport") holding an effective
56 percent ownership interest and acting as operator of the joint
venture, and La Generale des Carrieres et des Mines (Gecamines), the
Congolese state mining company, holding a 20 percent interest. Lundin
Mining and Freeport have funded the initial acquisition costs
including working capital on a 30%/70% basis, which amounts will be
repaid in full prior to any distributions. Additional attributable
consideration remains payable over a period of three years,
contingent upon the achievement of revenue-based performance targets. 
About Kokkola 
The Kokkola refinery, located on the Baltic Sea in Kokkola, Finland,
processes unrefined cobalt and related metals and manufactures
advanced inorganic products for use in a variety of applications in
fast-growing end-use markets. Kokkola is the world's largest supplier
of cobalt chemicals and powders for use in: 


 
--  batteries: cobalt raw materials and precursors for rechargeable
    batteries 
--  chemicals & ceramics: cobalt inorganic materials for a variety of
    chemical, catalyst, blue pigment and other applications 
--  powder metallurgy: cobalt fine powders for the hard metal and diamond
    tooling industries

 
Kokkola has been in operation since 1968 and comes with an
experienced management team, over 400 employees, and a global sales
and marketing footprint that services approximately 500 customers in
over 50 countries in Asia, Europe and the Americas. Kokkola has
strong growth prospects and a track-record of strong revenue and cash
flow generation despite commodity price volatility.  
About Lundin Mining 
Lundin Mining Corporation is a diversified Canadian base metals
minin
g company with operations in Portugal, Sweden, Spain and
Ireland, producing copper, zinc, lead and nickel. In addition, Lundin
Mining holds a 24% equity stake in the world-class Tenke Fungurume
copper/cobalt mine in the Democratic Republic of Congo. 
On Behalf of the Board,  
Paul Conibear, President and CEO 
Forward Looking Statements 
Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario
Securities Act. Forward-looking statements are subject to a variety
of risks and uncertainties which could cause actual events or results
to differ from those reflected in the forward-looking statements,
including, without limitation, risks and uncertainties relating to
foreign currency fluctuations; risks inherent in mining including
environmental hazards, industrial accidents, unusual or unexpected
geological formations, ground control problems and flooding; risks
associated with the estimation of mineral resources and reserves and
the geology, grade and continuity of mineral deposits; the
possibility that future exploration, development or mining results
will not be consistent with the Company's expectations; the potential
for and effects of labour disputes or other unanticipated
difficulties with or shortages of labour or interruptions in
production; actual ore mined varying from estimates of grade,
tonnage, dilution and metallurgical and other characteristics; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; uncertain political and economic environments; changes
in laws or policies, foreign taxation, delays or the inability to
obtain necessary governmental permits; and other risks and
uncertainties, including those described under Risk Factors Relating
to the Company's Business in the Company's Annual Information Form
and in each management discussion and analysis. Forward-looking
information is in addition based on various assumptions including,
without limitation, the expectations and beliefs of management, the
assumed long term price of copper, nickel, lead and zinc; that the
Company can access financing, appropriate equipment and sufficient
labour and that the political environment where the Company operates
will continue to support the development and operation of mining
projects. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking
statements. Accordingly, readers are advised not to place undue
reliance on forward-looking statements.
Contacts:
Lundin Mining Corporation
Sophia Shane
Investor Relations North America:
+1-604-689-7842 
Lundin Mining Corporation
John Miniotis
Senior Business Analyst
+1-416-342-5565
+1 416 348 0303 (FAX) 
Lundin Mining Corporation
Robert Eriksson
Investor Relations Sweden
+46 8 545 015 50
www.lundinmining.com
 
 
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