DAILY NEWS Jan 23, 2013 4:04 PM - 0 comments

BASE METALS: Lundin adds up 2013, proposes 2013 targets

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TORONTO – Lundin Mining Corp. is pleased with 2012 production numbers that are near the high end of the announced targets. The company finished the year with an output of 102,050 tonnes of copper, 122,204 tonnes of zinc, 38,464 tonnes of lead and 2,398 tonnes of nickel.

"Zinkgruvan had a particularly successful year with new records set for production of zinc, lead and copper," said Lundin president and CEO Paul Conibear. "Tenke also set new copper production records as phase two expanded facilities came on line."

With the exception of nickel, 2013 production is expected to rise. Copper output will be between 101,650 and 108,105 tonnes at an average cost of $1.80/lb at its wholly owned mines Neves-Corvo in Portugal, Zinkgruvan in Sweden and Aguablanca in Spain. At the Tenke mine in the Democratic Republic of Congo, Lundin has a 24% interest and costs will be $1.03/lb of copper. Zinc production at Neves-Corvo, Zinkgruvan and Galmoy in Ireland will be 118,000 to 128,000 tonnes at a cost of $0.20/lb. Lead production from Zinkgruven will be 33,000 to 36,000 tonnes (no cost specified). Finally, nickel from Aguablanca will be between 5,000 and 5,500 tonnes at $5.00/lb.

Commentary and operating statistics as available in the news release of Jan. 22, 2013, posted at LundinMining.com.

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