Lundin Mining Announces 2014 Production Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 01/21/15 -- Lundin Mining Corporation ("Lundin Mining" or the "Company") (TSX: LUN)(OMX: LUMI) today announced production results for the three and twelve months ended December 31, 2014.
2014 Highlights:
A summary of the Company's production results compared against guidance is shown below:
Paul Conibear, President and CEO commented, "We are very pleased to have met and in a number of cases excelled on production compared to annual production guidance. We are particularly proud of the continued ramp-up at the Eagle mine which had a very successful year in 2014, and is expected to generate significant cash flow for the Company going forward. For 2015, we anticipate another year of strong execution as we focus on cash generation and profit optimization at each of our operations. Of special note, I extend congratulations to our operating teams for achieving a new Company safety record performance, with improvements recorded across all operations."
Operational Commentary
Zinc production achieved an annual record as a result of an increased proportion of zinc ore being derived from the Lombador deposit. Over 50% of the zinc ore is now being sourced from this area as well as from other high grade zinc areas in the mine.
2014 Operating Statistics
Details of operating statistics by mine, by quarter and for the year follow in the attached table:
Financial Results and 2015 Guidance
2015 production and cash operating cost guidance remains as per the press release issued 4 December 2014. Given current metal price declines, capital and exploration spending in selected areas is being reviewed and any resulting restraint measures will be reported along with the Company's 2014 financial results on Wednesday February 18th after market close, followed by a conference call and webcast on Thursday February 19th at 8:00 am Eastern Time. Conference call details are provided below:
Please call in 10 to 15 minutes before the conference starts and stay on the line (an operator will be available to assist you).
Call-in number for the conference call (North America): +1 416 340 2216
Call-in number for the conference call (North America Toll Free): +1 866 225 2055
Call-in number for the conference call (Europe Toll Free): +00 800 9559 6849
To take part in the interactive presentation, please log on using this direct link:
The presentation slideshow will also be available in PDF format for download from the Lundin Mining website before the conference call.
A replay of the telephone conference will be available approximately one hour after the completion of the conference call until February 26, 2015.
Replay numbers:
North America: +1 905 694 9451
The pass code for the replay is: 5286647
About Lundin Mining
Lundin Mining Corporation is a diversified base metals mining company with operations in Chile, Portugal, Sweden, Spain and the United States, 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 and in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.
On Behalf of the Board,
Paul Conibear, President and CEO
Qualified Person
Mr. Steve Gatley, B.Sc (Eng.), C.Eng., is the Qualified Person as defined by National Instrument 43-101. Mr. Gatley is Vice President, Technical Services for the Company and has reviewed and approved the technical information contained in this news release.
Forward-Looking Statements
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act. This release includes, but is not limited to, forward looking statements with respect to the Company's estimated full year metal production and C1 cash costs, as noted in the Segmented Guidance section and elsewhere in this document. These estimates and other forward-looking statements are based on a number of assumptions and 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 the estimated cash costs, the timing and amount of production from the Eagle Project, the cost estimates for the Eagle Project, 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's discussion and analysis. Forward-looking information may also be based on other various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of copper, zinc, lead and nickel; 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 Manager Corp Development & Investor Relations
+1-416-342-5565
Lundin Mining Corporation
Robert Eriksson
Investor Relations Sweden
+46 8 545 015 50
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 21.01.2015 - 22:30 Uhr
Sprache: Deutsch
News-ID 366094
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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