Lundin Mining Corporation operates as a diversified base metals mining company. The company has operations in Portugal, Spain, Ireland and Sweden. It has three material mines in operation producing copper, nickel, lead and zinc. The company also holds an equity interest in the Tenke Fungurume Project in the Democratic Republic of Congo (DRC), and is undertaking expansion programs at its Neves-Corvo and Zinkgruvan mines. The company also holds an exploration portfolio and interests in exploration ventures. Operating Mines Neves-Corvo Mine: The Neves-Corvo mine, operated by the local Portuguese company Somincor, is situated approximately 220km southeast of Lisbon in the Alentejo district of southern Portugal. The mine site lies approximately 15km south east of the town of Castro Verde and exploits five major orebodies from an underground mine. The concession provides the rights to exploit the Neves-Corvo deposits for copper, zinc, lead, silver, gold, tin and cobalt for an initial period of fifty years with two further extensions of twenty years each. Zinkgruvan Mine: The Zinkgruvan mine is located approximately 200km west of Stockholm in south-central Sweden. The mine site is approximately 15km from the town of Askersund and comprises a deep underground mine, a processing plant and associated infrastructure and tailings disposal facilities. The mining operations are contained within two exploitation concessions covering the deposit and its immediate area. In addition, the mine currently holds exploration concessions in the area totaling 8,598ha. Aguablanca Mine: The Aguablanca mine is located approximately 100km north of Seville in the Extremadura region of southern Spain. The mine lies approximately 30km south of the town of Monesterio, and comprises an open pit mine, processing plant and associated waste and tailings management facilities. Concentrates from the mine are trucked to the port of Huelva for onward shipping to customers. The mining rights for Aguablanca are covered under a Reserva Definitiva a Favor del Estado called La Moneguera which consists of 95 contiguous claims covering an area of 2,862 ha. Lundin Mining holds exploration rights over an area of 2,521 square kilometers, largely to the north and west of Aguablanca, known as the Ossa Morena. Other Mines Galmoy Mine: The Galmoy zinc-lead mine is located in south-central Ireland in County Kilkenny. Galmoy is an underground mine with most of the workings between 100m and 160m below surface. Storliden Mine: The Storliden zinc-copper mine is located in the Skelefte District of northern Sweden. Projects Tenke Fungurume Project: TFM’s copper-cobalt deposits comprise copper-cobalt resources. The deposits are located on contiguous concessions which total 1,437 square kilometers. These concessions are located in Katanga Province, DRC, approximately 175 km northwest of Lubumbashi. Salave Project: Salave is an undeveloped, near-surface gold deposit located in Asturias, in northern Spain. Ozernoe Project: The company holds a 49% interest in the Ozernoe zinc-lead project deposit which is located 200km east of Lake Baikal in the Russian Republic of Buryatia. Significant Events In April 2012, the company has entered into a purchase option agreement to acquire an 80% interest in the Touro copper project located in northern Spain owned by two private Spanish companies. In November 2012, Southern Hemisphere Mining Limited announced that it has completed the strategic agreement with Lundin Mining Corporation. History Lundin Mining Corporation was founded in 1994. The company was formerly known as South Atlantic Ventures, Ltd. and changed its name to Lundin Mining Corporation in 2004.
lundin mining corp (LUN:Toronto)
150 King Street West
Toronto, ON M5H 1J9
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