Lundin Mining Provides Operating Outlook
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/30/16 -- Lundin Mining Corporation ("Lundin Mining" or the "Company") (TSX: LUN)(OMX: LUMI) provides the following production guidance for the three-year period of 2017 through 2019, 2017 cash costs, capital and exploration expenditure guidance, as well as five-year guidance for our Candelaria operation. Key highlights are as follows:
Paul Conibear, President and CEO commented, "As we head into 2017, we anticipate building on the strong operating performance achieved during 2016, including the copper production profile which has once again been improved at Candelaria. Each of our mines has a low capital intensity, low risk expansion project either under study, permitting or construction. We have reinvigorated our exploration programs, and between our project and operating initiatives, we believe we are well positioned for excellent cash flows for many years to come."
Attributable Production Outlook 2017 - 2019(1)
Candelaria Five-Year Outlook
2017 Cash Costs(3)
2017 Capital Expenditure Guidance
2017 Exploration Investment
Exploration expenditures, not including Tenke, are expected to be approximately $65 million in 2017. This is a near 40% increase over estimated 2016 expenditures reflecting focus on aggressive in-mine and near-mine exploration programs at Candelaria, Eagle, and rejuvenation of the programs at Zinkgruvan and Neves-Corvo. Approximately $56 million is expected to be directed toward in and near-mine targets ($32 million at Candelaria and $16 million at Eagle), with the remainder to advance exploration activities at our existing mines and budgeted activities for new South American and Eastern European exploration projects.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations in Chile, the USA, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, until its announced sale has been concluded, Lundin Mining holds an indirect 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
The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation and/or the Swedish Securities Market Act. This information was publicly communicated on November 30, 2016 at 5:05 p.m. Eastern Time.
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 annual metal production, C1 cash costs, and capital expenditures. 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 estimated operating and cash costs, foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; including 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; inability to successfully integrate the Candelaria operations or realize its anticipated benefits; 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, zinc and other metals; 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
Mark Turner
Director, Business Valuations and Investor Relations
+1-416-342-5565
Lundin Mining Corporation
Sonia Tercas
Senior Associate, Investor Relations
+1-416-342-5583
Robert Eriksson
Investor Relations Sweden
+46 8 545 015 50
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Datum: 30.11.2016 - 22:05 Uhr
Sprache: Deutsch
News-ID 510156
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contact information:
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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