TORONTO, April 21, 2020 /CNW/ - (TSX: LUN; Nasdaq
Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or
the "Company") provides the following update on the Zinkgruvan
operation in Sweden.
Mining resumed today in the unaffected areas of the underground
mine. Surface operations also continue with the scheduled
maintenance of the concentrating facilities proceeding
well.
The incident area has now been released by the authorities.
There has been no material damage to the mine as a result of the
fire. While the investigation to determine the precise cause
is ongoing, the source was the contractor haulage truck which was
on fire around the 1140 m level of the mine.
Our priority is the welfare of our employees and contractors. We
are grateful for the decisive actions of our employees,
contractors, on site emergency responders and local fire department
who followed emergency protocols ensuring all personnel were
evacuated from the mine with no reported injuries.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining
company with operations in 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 April 21, 2020 at 18:30
Eastern Time.
Cautionary Statement in 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 Company's plans, prospects and business
strategies; the Company's guidance on the timing and amount of
future production and its expectations regarding the results of
operations; expected costs; permitting requirements and timelines;
timing and possible outcome of pending litigation; the results of
any Preliminary Economic Assessment, Feasibility Study, or Mineral
Resource and Mineral Reserve estimations, life of mine estimates,
and mine and mine closure plans; anticipated market prices of
metals, currency exchange rates, and interest rates; the
development and implementation of the Company's Responsible Mining
Management System; the Company's ability to comply with contractual
and permitting or other regulatory requirements; anticipated
exploration and development activities at the Company's projects;
and the Company's integration of acquisitions (such as the Chapada
mine) and any anticipated benefits thereof. 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 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: volatility and
fluctuations in metal and commodity prices; global financial
conditions and inflation; 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; changes in the Company's share price, and
volatility in the equity markets in general; the threat associated
with outbreaks of viruses and infectious diseases, including the
novel COVID-19 virus; risks related to negative publicity with
respect to the Company or the mining industry in general; reliance
on a single asset; 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; 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; 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; ore processing efficiency;
risks inherent in and/or associated with operating in foreign
countries and emerging markets; security at the Company's
operations; changing taxation regimes; health and safety risks;
exploration, development or mining results not being consistent
with the Company's expectations; unavailable or inaccessible
infrastructure and risks related to ageing infrastructure;
counterparty and credit risks and customer concentration; risks
related to the environmental regulation and environmental impact of
the Company's operations and products and management thereof;
exchange rate fluctuations; reliance on third parties and
consultants in foreign jurisdictions; community and stakeholder
opposition; civil disruption in Chile; the potential for and effects of labour
disputes or other unanticipated difficulties with or shortages of
labour or interruptions in production; uncertain political and
economic environments, including in Brazil and Chile; litigation; regulatory investigations,
enforcement, sanctions and/or related or other litigation; risks
associated with the structural stability of waste rock dumps or
tailings storage facilities; changes in laws, regulations or
policies including but not limited to those related to mining
regimes, permitting and approvals, environmental and tailings
management, labour, trade relations, and transportation; climate
change; compliance with environmental, health and safety laws;
enforcing legal rights in foreign jurisdictions; information
technology and cybersecurity risks; estimates of future production
and operations; estimates of operating, cash and all-in sustaining
cost estimates; delays or the inability to obtain, retain or comply
with permits; compliance with foreign laws; risks related to mine
closure activities and closed and historical sites; challenges or
defects in title; the price and availability of key operating
supplies or services; historical environmental liabilities and
ongoing reclamation obligations; indebtedness; funding requirements
and availability of financing; liquidity risks and limited
financial resources; risks relating to attracting and retaining of
highly skilled employees; risks associated with acquisitions and
related integration efforts (including with respect to the Chapada
mine), including the ability to achieve anticipated benefits,
unanticipated difficulties or expenditures relating to integration
and diversion of management time on integration; the estimation of
asset carrying values; internal controls; competition; dilution;
existence of significant shareholders; conflicts of interest;
activist shareholders and proxy solicitation matters; risks
relating to dividends; risks associated with business arrangements
and partners over which the Company does not have full control; and
other risks and uncertainties, including but not limited to those
described in the "Risk and Uncertainties" section of the Annual
Information Form for the year ended December
31, 2019 and the "Managing Risks" section of the Company's
MD&A for the year ended December 31,
2019, which are available on SEDAR at www.sedar.com 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