Profile: Lundin Mining Corp (LUN.TO)
19 Sep 2014
Lundin Mining Corporation (Lundin), incorporated on July 31, 2007, is a diversified base metals mining company with operations in Portugal, Sweden, Spain and Ireland, producing copper, zinc, lead and nickel. The Company’s mining operations include Neves-Corvo Mine, Zinkgruvan Mine, Aguablanca Mine and Tenke Fungurume. In addition, Lundin Mining holds a 24% equity stake in the world-class Tenke Fungurume copper/cobalt mine in the Democratic Republic of Congo. During the year ended December 31, 2012, Tenke Fungurume had a capacity of approximately 13,000 metric tons of ore per day. As of December 31, 2012, Tenke produced 157,671 tons of copper and sold 152,355 tons. In addition, 11,669 tons of cobalt in hydroxide was produced and 11,259 tons were sold. In March 2013, it announced the closing of acquisition of the Kokkola cobalt chemical refinery located in Finland and related sales and marketing business (collectively Kokkola) from OM Group Inc.
Neves-Corvo is an underground mine, located 100 kilometers north of Faro, Portugal, in the western part of the Iberian Pyrite Belt. The facilities include a shaft with a total hoisting capacity of up to 4.5 million tons per annum, a copper plant with 2.5 million tons per annum processing capacity and a newly expanded zinc plant with one mtpa processing capacity. The zinc plant has the flexibility to process zinc or copper ores. The Zinkgruvan mine is located approximately 250 kilometers south-west of Stockholm, Sweden. As of December 31, 2012, the operation consists of an underground mine, processing facilities and associated infrastructure with a nominal production capacity of 1.3 million tons of ore. The Aguablanca nickel-copper mine is located in the province of Badajoz, 80 kilometers by road to Seville, Spain, and 140 kilometers from a seaport at Huelva. As of December 31, 2012, the operations consist of an open pit mine and an on-site processing facility (milling and flotation) with a production capacity of 1.9 million tons per annum. Tenke Fungurume (Tenke) is a copper-cobalt mine located in the southern part of Katanga Province, Democratic Republic of Congo (DRC). Freeport-McMoRan Copper & Gold Inc. (Freeport) is the operating partner and holds a 56% interest in the mine. La Generale des Carrieres et des Mines (Gecamines), the Congolese state mining company, holds a 20% carried interest in the mine.
Lundin Mining Corp
Suite 1500, 150 King Street West
P.O Box 38
TORONTO ON M5H 1J9