Lundin Mining Corporation · TSX:LUN
Lundin Mining — Credit Suisse 2020 Global Steel & Mining Conference
26 slides from Lundin Mining's conference presentation, Sep 10, 2020
Slide 1: Credit Suisse 2020 Global Steel & Mining Conference
Credit Suisse 2020 Global Steel & Mining Conference September 10 th & 11 th , 2020 TSX: LUN Nasdaq Stockholm: LUMI Candelaria, Atacama Region, Chile
Slide 2: Cautionary Statements
Cautionary Statements Caution Regarding Forward-Looking Information and Non-GAAP Performance Measures This document contains “forward-looking information” within the meaning of Canadian securities laws. All statements other than statements of historical facts constitute forward-looking information,
Slide 3: Lundin Mining Our Strategy
Lundin Mining Our Strategy Operate, upgrade and grow a base metals portfolio that provides leading returns for our shareholders throughout the cycle • copper dominant • competitive cost position Eagle Zinkgruvan • low-risk mining jurisdictions, Nickel-Copper-PGMs in U.S.A. Zinc-Lead-Copper in Sweden
Slide 4: Responsible Mining
Responsible Mining 2019 Sustainability Report • we recognize the important role of the metals we produce and are committed to mining these metals responsibly • we demonstrate this commitment through living our core values of Safety, Respect, Integrity and Excellence in all aspects of our decision-ma
Slide 5: Increasing Production Profile
Increasing Production Profile1 (kt) Copper Gold Nickel 294 - 318 180 - 190 15 - 18 15 - 18 165 - 180 251 - 274 +30% 13 235 142 2019A 2020 2021 2019A 2020 2021 2019A 2020 2021 1. Production profile based on certain estimates and assumptions, including but not limited to; Mineral Resource and Mineral
Slide 6: H1/20 Summary Results
H1/20 Summary Results Production Payable Sales 127,452 t of copper 125,548 t of copper 68,529 t of zinc 55,709 t of zinc 83,000 oz of gold 81,000 oz of gold 6,955 t of nickel 5,228 t of nickel 14,839 t of lead 14,336 t of lead $911M in Sales Lead Other Sweden Nickel 2% 3% 6% USA 6% 11% Zinc 7% Portu
Slide 7: Candelaria
Candelaria Resilient Operations in Face of COVID-19 Challenges • H1/20 production of 71,357 t of copper and approximately 42,000 oz of gold at cash Copper, Gold Production & Cash Cost1 Outlook cost of $1.33/lb of copper (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) • CMOP replacem
Slide 8: Candelaria Copper Production Profile
Candelaria Copper Production Profile1 (kt) 190 190 192 194 184 185 175 175 171 175 167 156 160 152 151 146 146 135 136 114 96 84 69 45 10 4 4 4 2016A 2017A 2018A 2019A 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 December 2018 Technical Rep
Slide 9: Chapada
Chapada Improved Grades & Recoveries • Q2/20 copper production increased 16% and gold production approximately 28% over Copper, Gold Production & Cash Cost1 Outlook Q1/20, driven by improving grades and recoveries for both metals (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) • H1/
Slide 10: Chapada Production Profile
Chapada Production Profile1,2 120 100 Metal Production 80 60 40 20 0 3 3 3 2019A 2020 2023 2026 2027 2030 2033 2036 2037 2040 2043 2044 2046 2047 2050 2021 2022 2024 2025 2028 2029 2031 2032 2034 2035 2038 2039 2041 2042 2045 2048 2049 Copper (kt) Gold (koz) 1. Production shown is based on the NI 43
Slide 11: Neves-Corvo
Neves-Corvo New Mill Throughput Record Set • H1/20 production of 19,634 t of copper, 36,934 t of zinc and 3,027 t Copper, Zinc Production & Cash Cost Outlook of lead (kt & $/lb Cu, net of by-product credits) • new throughput record set in Q2/20 with over one million tonnes milled in the quarter • ca
Slide 12: Zinkgruvan
Zinkgruvan On-Track to Achieve Full-Year Guidance • H1/20 production of 31,595 t of zinc, 11,812 t of lead and 2,301 t of copper at cash cost of $0.53/lb of zinc Zinc Production & Cash Cost Outlook (kt & $/lb Zn, net of by-product credits) • mine plan calls for return to high grade stopes in H2/20 d
Slide 13: Eagle
Eagle Improved Copper Production & Nickel Cash Cost Guidance • H1/20 production of 6,955 t of nickel and 8,480 t of copper at cash cost of $1.29/lb nickel • set a new record over 180 days without a recordable injury on May 2 and continues with Nickel, Copper Production & Cash Cost Outlook zero recor
Slide 14: Lundin Mining
Lundin Mining High Quality Meaningful Scale Financial Strength Competitive Mines Growth Oriented • demonstrated operational excellence and • materially increasing copper and zinc • proven track record for rigorous investment culture of continuous improvement production profile approach, focused on v
Slide 15: www.lundinmining.com
www.lundinmining.com | TSX: LUN | Nasdaq Stockholm: LUMI
Slide 16: Appendices
Appendices lundin mining 16
Slide 17: 2020 Guidance Summary
2020 Guidance Summary1 Production C1 Cash (contained metal in concentrate) Cost2 Sustaining Capital Copper (t) Candelaria (100%) 145,000 - 155,000 $1.353 Candelaria (100% basis) 230 Chapada 51,000 - 56,000 $0.654 Eagle 17,000 - 19,000 Chapada 40 3 Neves-Corvo 35,000 - 40,000 $2.10 Eagle 15 Zinkgruva
Slide 18: Candelaria Complex – Mineral Resources and Mineral Reserves
Candelaria Complex – Mineral Resources and Mineral Reserves1 Ownership 80% Location Region III, Chile Mine life +20 years 2020 exploration budget $15M P&P Copper Mineral Reserves 3,656 kt contained (684,445 kt at 0.5%) M&I Copper Mineral Resources 7,574 kt contained (1,179,253 kt at 0.6%) Inferred C
Slide 19: Candelaria Reinvestments
Candelaria Reinvestments Mine Fleet Reinvestment • significantly increased production profile and extended mine life on exploration success. Mineral Reserve estimate now supports mine life to beyond 2040 • new equipment increases haulage efficiency. 38 new latest generation CAT 793F trucks which are
Slide 20: Chapada – General Overview
Chapada – General Overview Alto • located in northern Goiás State Horizonte • 270 km northwest of national capital of Brasilia and 320 km north of state capital of Goiânia • supported by road access with good connections to the local and national road network • average elevation of approximately 300
Slide 21: Chapada – Mineral Resources and Mineral Reserves
Chapada – Mineral Resources and Mineral Reserves1 Ownership 100% Location Goiás State, Brazil Mine life +30 years 2020 exploration budget $7M P&P Copper Mineral Reserves 1,759 kt contained (759,652 kt at 0.23%) M&I Copper Mineral Resources 2,639 kt contained (1,132,198 kt at 0.23%) Inferred Copper M
Slide 22: Eagle Mine – Mineral Resources and Mineral Reserves
Eagle Mine – Mineral Resources and Mineral Reserves1 Ownership 100% Location Michigan, USA Mine life 5 years P&P Nickel Mineral Reserves 100 kt contained (3,909 kt at 2.6%) M&I Nickel Mineral Resources 113 kt contained (3,807 kt at 3.0%) P&P Copper Mineral Reserves 84 kt contained (3,909 kt at 2.1%)
Slide 23: Neves-Corvo – Mineral Resources and Mineral Reserves
Neves-Corvo – Mineral Resources and Mineral Reserves1 Ownership 100% Location Alentejo region, Portugal Mine life +10 years 2020 exploration budget $2M P&P Zinc Mineral Reserves 2,200 kt contained (30,114 kt at 7.3%) M&I Zinc Mineral Resources 4,938 kt contained (71,253 kt at 6.9%) Inferred Zinc Min
Slide 24: Zinkgruvan – Mineral Resources and Mineral Reserves
Zinkgruvan – Mineral Resources and Mineral Reserves1 Ownership 100% Location Askersund, Sweden Mine life +10 years 2020 exploration budget $7M P&P Zinc Mineral Reserves 690 kt contained (8,786 kt at 7.9%) M&I Zinc Mineral Resources 1,955 kt contained (22,596 kt at 8.6%) Inferred Zinc Mineral Resourc
Slide 25: NI 43-101 Compliance
NI 43-101 Compliance Unless otherwise indicated, Lundin Mining Corporation (the “Company”) has prepared the technical information in this presentation including Mineral Reserve and Mineral Resource estimates (“Technical Information”) based on information contained in the technical reports and news r
Slide 26: www.lundinmining.com
www.lundinmining.com | TSX: LUN | Nasdaq Stockholm: LUMI
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