TORONTO, Feb. 19, 2021 /PRNewswire/ -- (TSX: LUN) (Nasdaq
Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining"
or the "Company") is pleased to announce the appointment of Ms.
Karen Poniachik and Mr. Jack Lundin
to the Company's Board of Directors (the "Board") effective today.
The Company also announces that Mr. John
Craig has advised that he will be retiring and will not
stand for re-election as a director at the 2021 Annual Meeting.
"On behalf of the Board, and personally, I would like thank John
for his years of indispensable insight and many contributions to
Lundin Mining," said Mr. Lukas
Lundin, Chairman of Lundin Mining. "John is an astute
strategist who has been a strong contributor on our board and a
trusted advisor to our CEOs. He has had an integral role in
helping guide Lundin Mining to become the successful company it is
today."
"We are excited to welcome Karen and Jack to the Lundin Mining
team," commented Ms. Marie Inkster,
President, CEO and director. Ms. Catherine
Stefan, Chair of the Board's Corporate Governance and
Nominating Committee, added, "Karen's extensive knowledge in public
policy, governance and experience in Chile and Latin
America provides a most valuable addition. Jack's experience
in mine development as well as recognized legacy and years of
natural resource technical and economic expertise makes for an
ideal addition to our Board".
Ms. Poniachik brings extensive knowledge and experience on
variety of corporate governance topics, including ESG, how climate
change should be addressed by boards, and ethics and compliance.
She is currently the Director of Columbia
University's Global Centers, Santiago, an ESG Lecturer for Thomson Reuters
Latam and a member of the Advisory Boards of Microsoft #Transforma
Chile and Chilemujeres. Previously, Ms. Poniachik served as
Chile's Minister of Mining from
2006 to 2008, during which time she chaired the boards of directors
of state-owned companies Codelco, Enap and Enami. She was
Chile's Special Envoy to the
Organization for Economic Co-operation and Development (OECD) in
charge of the country's accession process to the organization
completed in 2010. Currently she is a member of the board of
directors of Chilean companies Jetsmart Airlines and Interchile ISA
and is part of the advisory board of the Chilean-American Chamber
of Commerce, AmCham Chile, where she served as chair of the
Corporate Governance, Ethics & Compliance Committee for the
last two years.
Mr. J. Lundin is currently the CEO and a director of Bluestone
Resources Inc. He has been involved in the natural resource
industry his entire life through exposure to several Lundin Group
companies. Prior to joining Bluestone Resources, Mr. J. Lundin was
involved in the successful development of Lundin Gold Inc.'s Fruta
del Norte Gold Mine in southern
Ecuador where he served as the
Project Superintendent. He began his career in the sector working
prospecting jobs on various early-stage projects in Canada, Russia, Ireland, and Portugal. Mr. J. Lundin holds a Bachelor of
Science degree in Business Administration from Chapman University and a Master of Engineering
degree in Mineral Resource Engineering from the University of
Arizona. He currently sits on the board of directors of
Denison Mines Corp. and serves on the board of The University of Arizona's Lowell Institute for
Mineral Resources.
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 February 18, 2021 at 19:55
Eastern 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 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 or labour
disputes; timing for any required repairs and resumption of any
interrupted operations; the results of any 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 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; 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; 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 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 limited to those described in
the "Risks 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,
2020, 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.
CONTACT: Mark Turner, Director,
Business Valuations and Investor Relations: +1 416 342 5565,
Brandon Throop, Manager, Investor
Relations: +1 416 342 5583, Robert
Eriksson, Investor Relations Sweden: +46 8 440 54 50