Lundin Mining meets guidance at all operations
Canada-headquartered Lundin Mining has achieved its production guidance for all the metals it produces, at all its operations, as the miner prepares for a big jump in production this year.
The miner produced 67 131 t of copper in the fourth quarter, taking total production for the year to 235 498 t, which falls with its guidance of 227 000 t to 245 000 t. The Candelaria mine, in Chile, produced 39 221 t in the final quarter, which president and CEO Marie Inkster said on Wednesday was achieved during a time of considerable unrest in the country.
Zinc production for the fourth quarter was 38 925 t and the full-year output was in line with its guidance of 149 000 t to 157 000 t.
Nickel production of 13 494 t in the full year was also within the 12 000 t to 14 000 t guidance.
“We began to realise the benefits of the significant investments made over the last few years in our operations during the second half of 2019. This positive momentum is expected to accelerate in 2020 with the Candelaria reinvestment initiatives and development of Eagle East essentially complete, and as the ZEP ramps up,” Inkster said.
The group’s copper production is forecast to increase by more than 20% this year, zinc production by 18% and nickel production by 22%.
“We are well positioned to deliver multiple years of strong production, decreasing cash costs and free cash flow generation."
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