Lundin Mining Corp. has announced production results for the 3 and 12 months ended 31 December 2020. The consolidated financial results for the year ended December 31, 2020 will be published on 18 February 2021.
- 2020 annual production guidance achieved for all metals. Production of 230 781 t of copper was at the upper end of the guidance range and gold production of 163 000 oz exceeded guidance.
- Candelaria copper and gold production both exceeded annual guidance. The operation safely returned to full production capacity in December 2020 after reaching new collective union agreements and the upgrade installation of the fourth and final ball mill motor as part of the Candelaria Mill Optimization Project (CMOP). The CMOP is now complete.
- Chapada copper and gold production both exceeded annual guidance. Chapada returned to full processing capacity in December 2020 after installation of a second repaired motor on the ball mill.
- Eagle achieved strong and consistent operating performance again in 2020. Nickel and copper production both achieved annual guidance, with copper production approaching the upper bound of the guidance range.
- Neves-Corvo achieved annual copper production guidance and zinc production was within 1000 t of guidance. The Zinc Expansion Project (ZEP), to double current zinc production capacity and improve per unit operating cost, was officially restarted in early January 2021.
- Zinkgruvan zinc and copper production both achieved annual production guidance, with zinc approaching the upper bound of the guidance range. 2020 zinc production finished strong, with a grade-driven significant increase in production during 4Q20.
- Continuing the trend of improvement, Lundin Mining achieved its best ever total recordable injury frequency (TRIF) rate in 2020 with a rate of 0.55 against a target of 0.60 per 200 000 person hours worked. While this achievement was dampened by the fatality at Neves-Corvo in 3Q20, the excellent overall safety result was realised during a challenging year and reflects project activities at Candelaria and Neves-Corvo ZEP, as well as significant changes to work practices, workplaces and work schedules to ensure our workforce and local communities were protected from the spread of COVID-19.
- Year-end 2020 net debt position was approximately CAN$65 million.
Read the article online at: https://www.globalminingreview.com/finance-business/22012021/lundin-mining-announces-2020-production-guidance/