Go to the Globe and Mail homepage

Jump to main navigationJump to main content

AdChoices

Lundin looks to expand Neves Corvo mine Add to ...

Lundin Mining Corp. announced a plan Thursday to expand its Neves Corvo mine in Portugal at a cost of $226-million.

The Lombador Phase 1 project would extend the life of the copper-and-zinc mine to at least 2026 and serve as a platform for further extensions, the company said.

The investment will total about €164-million, or $226-million at current exchange rates.

In addition to a mine deepening, the project calls for the expansion of the existing zinc plant ore processing capacity.

“This study confirms the company's view that the Lombador Phase 1 project can be developed into a successful and profitable expansion to the existing operations,” Lundin chief executive Paul Conibear said in a statement.

“The initial phase of Lombador development enables zinc production to ramp up taking advantage of the expected strong zinc markets evolving over the next several years.”

Toronto-listed Lundin has operations in Portugal, Sweden, Spain and Ireland, producing copper, zinc, lead and nickel. The company also holds a stake in the Tenke Fungurume copper-cobalt mine in the Democratic Republic of Congo.

Report Typo/Error

Follow us on Twitter: @GlobeInvestor

 
  • Lundin Mining Corp
    $4.36
    +0.01
    (+0.23%)
  • Updated June 30 4:00 PM EDT. Delayed by at least 15 minutes.

Topics

Next Story

In the know

The Globe Recommends

loading

Most popular videos »

Highlights

More from The Globe and Mail

Most popular