Lundin Mining Corporation · TSX:LUN
Lundin Mining — Q1 2022 Earnings Presentation
17 slides from Lundin Mining's earnings presentation, Apr 28, 2022
Slide 1: First Quarter 2022 Results
First Quarter 2022 Results April 28, 2022 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 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 hi
Slide 3: Participants
Participants Peter Rockandel President, CEO & Director Jinhee Magie SVP & CFO Peter Richardson SVP & COO Chapada open pit operations – April 2022 3
Slide 4: Responsible Mining
Responsible Mining Safety – Foremost Value Total Recordable Injury Frequency per 200,000 person hours worked • we hold health and safety as our top priority in everything we do • fatality at Neves-Corvo in Q1/22 2.5 • Neves-Corvo operations were voluntarily temporarily suspended • initial findings s
Slide 5: Q1/22 Summary Results
Q1/22 Summary Results Production Payable Sales 65,081 t of copper 64,879 t of copper 32,391 t of zinc 27,504 t of zinc 34,000 oz of gold 36,000 oz of gold 4,281 t of nickel 3,267 t of nickel 7,521 t of lead 5,607 t of lead Over $990M in Sales Other 3% Gold Sweden 6% 9% Nickel USA 11% 15% Chile Zinc
Slide 6: Financial Highlights
Financial Highlights Realized Metal Prices1,2 Q1/22 Q1/21 Δ Copper $4.94/lb $4.20/lb 18% Zinc $1.96/lb $1.27/lb 54% Gold $1,959/oz $1,598/oz 23% Nickel $15.17/lb $7.79/lb 95% Summary Financial Results2 Q1/22 Q1/21 Δ Revenue $991M $682M 45% Gross Profit $479M $787M $253M 89% $345M $135M 156% Attribut
Slide 7: Josemaria
Josemaria Meaningfully Increasing Copper and Gold Growth Profile • completed acquisition of Josemaria Resources Inc. April 28, 2022 • project received Environmental Social Impact Assessment April 11, 2022 • commercial agreements and securing of additional sectoral permits are ongoing • progressing t
Slide 8: Candelaria
Candelaria Delivering on Plan • production of 39,503 t of copper and approximately 22,000 oz of gold at cash cost1 of $1.58/lb of copper in-line with plan Copper, Gold Production & Cash Cost Outlook2 • operation managed well to COVID-related absences, though along with fleet (100% basis; kt Cu, koz
Slide 9: Chapada
Chapada Q1/22 Impacted by Significant Rainfall and Omicron Wave Copper, Gold Production & Cash Cost Outlook1 • production of 10,100 t of copper and 12,000 oz of gold at a cash cost of $1.82/lb copper (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) • mining activities and ore release
Slide 10: Saúva Copper-Gold System
Saúva Copper-Gold System Assay Results Since Discovery Announcement 1 N FOR-149: 70.66 m at 0.37% Cu and 0.31 g/t Au or 0.59% CuEq, from 283 m including: 7.00 m at 0.67% Cu and 0.93 g/t Au or 1.35% CuEq, from 297 m FOR-159: 55.00 m at 0.59% Cu and 0.66 g/t Au or 1.07% CuEq, from 436 m including: 21.
Slide 11: Eagle
Eagle Robust Operating Performance & Cash Generation • production of 4,281 t of nickel and 4,420 t of copper at a first-quartile cash cost of Nickel, Copper Production & Cash Cost Outlook1 negative $1.25/lb nickel (kt & $/lb Ni, net of by-product credits) • production of copper and nickel trending a
Slide 12: Eagle East Exploration and Growth
Eagle East Exploration and Growth Eagle East Intrusion Peridotite • Upper Keel zone to be included in 2023 life-of-mine Semi-Massive Sulphide plan with the aim of first ore in H1/24 Massive Sulphide • Q1/22 drilling has extended Eagle East semi-massive Upper Keel Zone sulphide mineralization by 57-8
Slide 13: Neves-Corvo
Neves-Corvo Zinc Expansion Project Ramping Up Copper, Zinc Production & Cash Cost Outlook1 • production of 9,860 t of copper, 14,751 t of zinc and 793 t of lead at a cash cost of (kt & $/lb Cu, net of by-product credits) $1.70/lb copper • copper and zinc production are tracking well to annual guidan
Slide 14: Zinkgruvan
Zinkgruvan Strong Performance Zinc Production & Cash Cost Outlook1 • production of 17,640 t of zinc, 1,198 t of copper and 6,728 t of lead at a cash cost of (kt & $/lb Zn, net of by-product credits) $0.27/lb of zinc in-line with plan and tracking to guidance • both mine and mill continue to perform
Slide 15: 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 Zinkgruvan • competitive cost position Eagle Zinc-Lead-Copper in Sweden Nickel-Copper-PGMs in U.S.A. • low-risk mining jurisdictions
Slide 16: 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 17: www.lundinmining.com
www.lundinmining.com | TSX: LUN | Nasdaq Stockholm: LUMI