Lundin Mining Corporation

Aguablanca, Spain

Aguablanca

Summary Report

Nickel/Copper mine


The Aguablanca nickel-copper mine is located in the province of Badajoz, 80 km by road to Seville, Spain, and 140 km from a major seaport at Huelva. The operations consist of an open pit mine and an on-site processing facility (milling and flotation) with a present production capacity of 1.9 m tonnes of ore per annum. The processing plant has been designed to produce a bulk copper/nickel/ metals concentrate.

Aguablanca Mine

Location Located in the province of Badajoz, 80 km by road to Seville, Spain, and 140 km from a major seaport at Huelva.
Ownership 100%
Type of ore body Magmatic nickel copper sulfide
Primary metal Nickel
Secondary metal Copper
2P reserves 7.5mt @ 0.6% Ni, 0.5% Cu
Type of mine Open pit
Mine facilities and method An open pit, drill and blast, truck and shovel operation
Processing facilities On-site milling and flotation (1.9mtpa capacity); tailings impoundment
End product Bulk concentrate, 7% Ni, 6% Cu
Expected mine life 5 years
Employees 169 full time employee equivalents and 205 full time contractor employees
Potential growth The ore-body continues below the final open-pit dimensions. Underground access is in place and evaluation is being conducted on using underground to supplement open pit production
2010 Targets
Production Nickel
Copper
Cash costs USc/lb

7,900 tonnes contained in concentrate
7,000 tonnes contained in concentrate
$6.25/lb Ni
Click here to see full Reserves and Resources statement

Quarterly Operations Update