VANCOUVER, BC, Sept. 11,
2023 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI)
Lundin Mining Corporation ("Lundin Mining" or the "Company")
is pleased to announce that the Environmental Impact Assessment
("EIA") for the extension of operations and mine life for its
Candelaria Copper Mine in Chile
(the "Candelaria Optimization and Operational Continuity 2040 EIA")
was approved by the Regional Environmental Commission of Atacama
("COEVA") on September 8, 2023.
Issuance of the Resolución de Calificación Ambiental ("RCA") by
Servicio de Evaluación Ambiental de la República de Chile ("SEA") is anticipated in October 2023.
The Candelaria Optimization and Operational Continuity 2040 EIA
considers several enhancements to the current operation that will
enable the extension of the mine life to 2040, from 2030 under the
previous EIA, and includes various measures that will support
sustainable social, economic, and environmental development within
the Atacama Region. The EIA was submitted to the authorities in
February 2020. Approval represents a
key milestone towards successfully extending the operational life,
including development of the La Española open pit, as
presented in the February 2023
technical report titled "Technical Report for the Candelaria Copper
Mining Complex, Atacama Region, Region III, Chile." The
Candelaria Optimization and Operational Continuity 2040 EIA also
allows for the potential development of the Candelaria Underground
Expansion Project ("CUGEP") not included in the February 2023 technical report.
Peter Rockandel, CEO of Lundin
Mining stated, "We are very pleased to announce approval of the
Candelaria Optimization and Operational Continuity 2040 EIA. This
announcement is the culmination of a comprehensive process and
reflects our long-term commitment to our employees, our
communities, the region, and the country of Chile. Approval enables the construction of
various facilities and initiatives that, together, represents
continued investment and local employment. We are excited to
continue working together to create a prosperous and sustainable
future in the Atacama Region."
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining
company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the
United States of America, primarily producing copper, zinc,
gold and nickel.
The information in this release is subject to the disclosure
requirements of Lundin Mining under the EU Market Abuse Regulation.
The information was submitted for publication, through the agency
of the contact persons set out below on September 11, 2023, at 2:30 Pacific Time.
Cautionary Statement on
Forward-Looking Information
Certain of the statements made and information contained
herein is "forward-looking information" within the meaning of
applicable Canadian securities laws. All statements other than
statements of historical facts included in this document constitute
forward-looking information, including but not limited to
statements regarding the anticipated timing for issuance of the RCA
by the SEA and the enhancements to the current operations at the
Candelaria Copper Mine contemplated by the Candelaria Optimization
and Operational Continuity 2040 EIA, including the extension of the
mine life to 2040 and the potential development of the CUGEP .
Words such as "believe", "expect", "anticipate", "contemplate",
"target", "plan", "goal", "aim", "intend", "continue", "budget",
"estimate", "may", "will", "can", "could", "should", "schedule" and
similar expressions identify forward-looking statements.
Forward-looking information is necessarily based upon various
estimates and assumptions including, without limitation, the
expectations and beliefs of management, including that the Company
can achieve certain synergies, access financing, appropriate
equipment and sufficient labour; assumed and future price of
copper, nickel, zinc, gold and other metals; anticipated costs;
ability to achieve goals; the prompt and effective integration of
acquisitions; that the political environment in which the Company
operates will continue to support the development and operation of
mining projects; and assumptions related to the factors set forth
below. While these factors and assumptions are considered
reasonable by Lundin Mining as at the date of this document in
light of management's experience and perception of current
conditions and expected developments, these statements are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements and undue reliance
should not be placed on such statements and information. Such
factors include, but are not limited to: global financial
conditions, market volatility and inflation, including pricing and
availability of key supplies and services; risks inherent in mining
including but not limited to risks to the environment, industrial
accidents, catastrophic equipment failures, unusual or unexpected
geological formations or unstable ground conditions, and natural
phenomena such as earthquakes, flooding or unusually severe
weather; uninsurable risks; project financing risks, liquidity
risks and limited financial resources; volatility and fluctuations
in metal and commodity demand and prices; delays or the inability
to obtain, retain or comply with permits and environmental
approvals; reputation risks related to negative publicity with
respect to the Company or the mining industry in general; health
and safety risks; inability to attract and retain highly skilled
employees; risks associated with climate change; compliance with
environmental, health and safety laws and regulations; unavailable
or inaccessible infrastructure, infrastructure failures, and risks
related to ageing infrastructure; risks inherent in and/or
associated with operating in foreign countries and emerging
markets, including with respect to foreign exchange and capital
controls; economic, political and social instability and mining
regime changes in the Company's operating jurisdictions, including
but not limited to those related to permitting and approvals,
environmental and tailings management, labour, trade relations, and
transportation; risks relating to indebtedness; the inability to
effectively compete in the industry; risks associated with
acquisitions and related integration efforts, including the ability
to achieve anticipated benefits, unanticipated difficulties or
expenditures relating to integration and diversion of management
time on integration; changing taxation regimes; risks related to
mine closure activities, reclamation obligations, environmental
liabilities and closed and historical sites; reliance on key
personnel and reporting and oversight systems, as well as third
parties and consultants in foreign jurisdictions; information
technology and cybersecurity risks; risks associated with the
estimation of Mineral Resources and Mineral Reserves and the
geology, grade and continuity of mineral deposits including but not
limited to models relating thereto; actual ore mined and/or metal
recoveries varying from Mineral Resource and Mineral Reserve
estimates, estimates of grade, tonnage, dilution, mine plans and
metallurgical and other characteristics; ore processing efficiency;
community and stakeholder opposition; financial projections,
including estimates of future expenditures and cash costs, and
estimates of future production may not be reliable; enforcing legal
rights in foreign jurisdictions; environmental and regulatory risks
associated with the structural stability of waste rock dumps or
tailings storage facilities; activist shareholders and proxy
solicitation matters; risks relating to dilution; regulatory
investigations, enforcement, sanctions and/or related or other
litigation; risks relating to payment of dividends; counterparty
and customer concentration risks; the estimation of asset carrying
values; risks associated with the use of derivatives; relationships
with employees and contractors, and the potential for and effects
of labour disputes or other unanticipated difficulties with or
shortages of labour or interruptions in production; conflicts of
interest; existence of a significant shareholder; exchange rate
fluctuations; challenges or defects in title; internal controls;
compliance with foreign laws; potential for the allegation of
fraud and corruption involving the Company, its
customers, suppliers or employees, or the allegation of improper or
discriminatory employment practices, or human rights violations;
the threat associated with outbreaks of viruses and infectious
diseases; risks relating to minor elements contained in concentrate
products; and other risks and uncertainties, including but not
limited to those described in the "Risk and Uncertainties" section
of the Company's Annual Information Form and the "Managing Risks"
section of the Company's MD&A for the year ended December 31, 2022, which are available on SEDAR+
at www.sedarplus.ca under the Company's profile.
All of the forward-looking statements made in this document
are qualified by these cautionary statements. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated, forecast or intended
and readers are cautioned that the foregoing list is not exhaustive
of all factors and assumptions which may have been used. Should one
or more of these risks and uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking information.
Accordingly, there can be no assurance that forward-looking
information will prove to be accurate and forward-looking
information is not a guarantee of future performance. Readers are
advised not to place undue reliance on forward-looking information.
The forward-looking information contained herein speaks only as of
the date of this document. The Company disclaims any intention or
obligation to update or revise forward-looking
information or to explain any material difference between such and
subsequent actual events, except as required by applicable
law.
SOURCE Lundin Mining Corporation