Lundin Mining Foresees Notable Surge in Base Metals Output

SEATTLE (Scrap Monster): Lundin Mining released production guidance for the three-year period from 2020 to 2022. The company anticipates significant jump in base metals production.

The overall copper production is forecast to record a jump of over 20% in 2020, compared with 2019. The zinc production is forecast to increase over 15%, whereas the nickel production is expected to surge higher by over 25% in 2020.

The company foresees increased copper production from Candelaria mine over the next two years, mainly on account of improving copper head grade and realization of the recent reinvestment initiatives. The mine output is expected to improve by 13% in 2020, followed by a further 12% increase in 2021.

The copper production from recently acquired Chapada copper-gold mine is forecast to be between 51,000 t and 56,000 t over the next three-year period. The gold production is likely to range between 70,000 Oz and 95,000 Oz over the forecast period.

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The Eagle mine’s nickel production will see 27% in 2020. The copper production is forecast to increase by 18% from the 2019 guidance. The zinc mine production from Neves-Corvo will witness 34% jump from 2019 guidance. The copper production, which is expected to remain consistent with 2019 levels in 2020, is forecast to increase again in 2021 and 2022. The Zinkgruvan zinc production in 2020 is likely to maintain 2019 levels, followed by a 5% decline in 2021. The copper production from the mine will see improvement in all the three years, the guidance report said.