Lundin Mining Corporation Reports Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Production Guidance for the Year 2015
Jan 21 15
Lundin Mining Corporation reported production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company announced wholly-owned production of copper of 20,880 tonnes. Production of Zinc was 36,464 tonnes, production of Lead was 7,970 tonnes and production of Nickel was 6,574 tonnes.
For the year, the company announced wholly-owned production of copper of 66,128 tonnes. Production of Zinc was 145,091 tonnes, production of Lead was 35,555 tonnes and production of Nickel was 12,931 tonnes.
For the year 2015, the company expects wholly-owned production of copper in the range of 61,000 tonnes to 69,000 tonnes. Production of Zinc is in the range of 135,000 tonnes to 145,000 tonnes. Production of Lead is in the range of 32,500 tonnes to 36,500 tonnes. Production of Nickel is in the range of 9,500 tonnes to 11,500 tonnes.
Lundin Mining Corporation Presents at CIBC 18th Annual Institutional Investor Conference, Jan-22-2015 02:05 PM
Jan 9 15
Lundin Mining Corporation Presents at CIBC 18th Annual Institutional Investor Conference, Jan-22-2015 02:05 PM. Venue: The Fairmont Chateau, 4599 Chateau Boulevard, Whistler, British Columbia, Canada. Speakers: John Miniotis, Senior Manager, Corp. Dev. & IR.
Lundin Mining Corporation Provides Production and Capital Expenditures Guidance for the Year 2015 and Production Guidance for the Years 2016 and 2017
Dec 4 14
Lundin Mining Corporation provided production guidance for the years 2015, 2016 and 2017. For the year 2015, the company expected total attributable Copper production guidance of 258,000 tonnes to 272,000 tonnes, total Zinc production guidance of 146,000 tonnes to 155,000 tonnes, total lead of 31,000 tonnes to 35,000 tonnes and total Nickel of 30,800 tonnes to 34,500 tonnes.
For the year 2016, the company expected total attributable Copper production guidance of 237,500 tonnes to 251,500 tonnes, total Zinc production guidance was 143,000 tonnes to 151,000 tonnes, total lead of 35,000 tonnes to 41,000 tonnes and total Nickel of 26,500 tonnes to 30,000 tonnes.
For the year 2017, the company expected total attributable Copper production guidance of 225,500 tonnes to 244,500 tonnes, total Zinc production guidance was 150,000 tonnes to 158,000 tonnes, total lead of 37,000 tonnes to 43,000 tonnes and total Nickel of 22,500 tonnes to 26,000 tonnes.
For the year 2015, the company’s capital expenditures for mines operated by the company are expected to be $470 million, which includes: Sustaining capital: $455 million Europe: $140 million, consisting of approximately $80 million for Neves-Corvo, $45 million for Zinkgruvan and $15 million at Aguablanca. Neves-Corvo's capital spending program includes approximately $30 million for underground development, $15 million for equipment replacement and $10 million for commencement of a water treatment plant, and the balance for miscellaneous other sustaining capital investment such as infill drilling and small projects. Zinkgruvan is expected to spend approximately $20 million for underground development, $5 million for expanded tailings storage, $5 million for paste backfill and delivery improvements, and the balance for plant and infrastructure refurbishment projects. Aguablanca has allocated approximately $10 million for underground development. Americas: $315 million, consisting of approximately $300 million for Candelaria, of which approximately $160 million is for deferred stripping activities in the open pit, $80 million for commencement of the expanded tailings storage facility project, $15 million for replacement and rebuild of mobile equipment and $15 million for Eagle which is predominantly for underground development. New investment: $15 million consisting of approximately $15 million for Neves-Corvo. Tenke: Capital expenditures for Tenke are not included above. All of the Tenke capital expenditures and exploration programs are expected to be self-funded by cash flow from Tenke operations. If current metal prices and operating conditions prevail, the Company believes it is reasonable to expect Lundin Mining's attributable cash distributions to range between $50 to $60 million in 2015, taking into account self-funding of the new acid plant project, and other expenditures such as exploration, small projects and routine sustaining capital. Exploration expenditures are expected to be in the range of $75 million in 2015. Approximately $40 million is expected to be directed toward near mine targets at Candelaria, with the remainder to advance exploration activities at existing mines and budgeted activities for South American and Eastern European exploration projects.