The mine has been a significant producer of copper since 1989. The copper plant has treated a maximum of 2.0 million tonnes per annum of ore and in 2007 it was modified to treat up to 2.2 million tonnes per annum.

In 2006 the Company commenced treating zinc ores and in January 2007 management announced that the zinc processing facility was operating at the designed production and metallurgical performance levels. The zinc ores are treated at a rate of 400,000 tonnes per annum in the former tin ore process plant which has been converted for this purpose.

During the last two years, management has focused on value enhancing initiatives by further developing its ore resources, embedding productivity enhancing systems and providing alternative solutions to vital bottleneck production systems.

Lombador Zinc Project

During the third quarter 2007, the Company's Board approved the conduct of a feasibility study contemplating develop of the Lombador zinc deposit which lies adjacent to existing Neves-Corvo deposits and the related surface facilities. Subsequently, shaft location studies, land acquisition, ore reserve drilling, metallurgical test work, and project planning advanced. The intent is to have the feasibility study well advanced during 2008, and subject to successful study results and future Board decisions the objective is to start mining Lombador in late 2011 or early 2012.

Quarterly Operations Update