Lundin Mining Corporation

Asset Overview

September 30, 2011

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  Neves-Corvo Zinkgruvan Aguablanca Galmoy Tenke
Location Portugal Sweden Spain Ireland DRC
Ownership 100% 100% 100% 100% 24%
Status Producing Producing Producing Mine only Producing
Growth potential World-class Zn deposit 10%+ throughput, Cu     Very high
Start-up year 1989 1857 2005 1997 2009
Mine type Underground Underground Open pit Underground Open pit
End product Concentrate Concentrate Concentrate Ore Cu cathode, Co(OH)2
Mine life – years 10+ 10+ 5 2 40+
Mill throughput 7,000 tpd 3,000 tpd 5,500 tpd n/a 8,000 tpd
2P Reserves – June 2011    
Primary tonnes 27.7 MT 10.6 MT 6.5 MT 0.2 MT 136.8 MT
  grade 3.0% Cu 9.2% Zn; 4.4% Pb 0.6% Ni; 0.4% Cu 16.4% Zn; 6.1% Pb 3.0% Cu; 0.3% Co
Secondary tonnes 23.1MT 2.8 MT      
  grade 7.3% Zn 2.6% Cu      
2011 Estimates          
Production tonnes 70,000 Cu 76,000 Zn Not guided pending review 31,000 Zn 126,500 Cu cathode
  tonnes 4,500 Zn 34,000 Pb
1,500 Cu
8,000 Pb
(in ore)
Co – approx. 10,000
Cash costs USc/lb 180c/lb Cu 32c/lb Zn     103c/lb Cu
Click Reserves and Resources for Measured, Indicated, Inferred and Contained Metal Data