Slide 1: Second Quarter 2022 Results
Second Quarter 2022 Results July 28, 2022 TSX: LUN Nasdaq Stockholm: LUMI Candelaria, Punta Padrones Desalination plant, 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 Jinhee Magie SVP & CFO Peter Richardson SVP & COO Zinkgruvan – June 2022 3
Slide 4: 2021 Sustainability Report
2021 Sustainability Report • new long-term sustainability strategy – Focused on the Future • interim scope 1 and scope 2 GHG absolute emissions reduction target of 35% by 2030 compared to our 2019 baseline year 2021 Highlights • safest year ever with a TRIF rate of 0.54 • Focused on the Future Susta
Slide 5: Q2/22 Summary Results
Q2/22 Summary Results Production Payable Sales 64,096 t of copper 60,239 t of copper 41,912 t of zinc 34,814 t of zinc 4,719 t of nickel 4,206 t of nickel 39,000 oz of gold 32,000 oz of gold 10,049 t of lead 10,981 t of lead $590M in Sales Other Sweden Gold 7% 12% 7% Nickel Copper USA 12% 59% Chile
Slide 6: Financial Highlights
Financial Highlights Realized Metal Prices1,2 Q2/22 Q2/21 Δ Copper $2.82/lb $4.58/lb (38%) • revenue impacted by over $220M negative of provisional price adjustments Zinc $1.37/lb $1.38/lb (1%) Gold $1,649/oz $1,833/oz (10%) • over $170M of dividends paid to shareholders and Nickel $7.64/lb $8.04/lb
Slide 7: Candelaria
Candelaria Q2/22 Production on Plan • production of 40,949 t of copper and approximately 23,000 oz of gold at cash cost1 of $1.86/lb of copper Copper, Gold Production & Cash Cost Outlook2 • tonnes milled, ore grades and recovery rates in line with plan; production trending (100% basis; kt Cu, koz Au
Slide 8: Chapada
Chapada Revising Full-Year Outlook Copper, Gold Production & Cash Cost Outlook1 • production of 10,345 t of copper and 16,000 oz of gold at a cash cost of $2.98/lb of copper (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) • full-year production guidance has been revised to 45,000 to
Slide 9: Saúva Copper-Gold System
Saúva Copper-Gold System Highlight Assay Results Received in Q2/22 N FOR-170: 42.85 m at 0.59% Cu and 0.40 g/t Au or 0.91% CuEq, from 412 m including: 31.00 m at 0.68% Cu and 0.47 g/t Au or 1.05% CuEq, from 424 m and: 17.87 m at 0.43% Cu and 0.12 g/t Au or 0.52% CuEq, from 556 m FOR-163: 51.43 m at
Slide 10: Eagle
Eagle Strong Q2/22 Operating Performance • production of 4,719 t of nickel and 4,400 t of copper at a cash cost of $0.90/lb nickel Nickel, Copper Production & Cash Cost Outlook1 • record quarterly nickel recoveries, including an all-time monthly record of 88.5% in June (kt & $/lb Ni, net of by-produ
Slide 11: Neves-Corvo
Neves-Corvo Zinc Expansion Project Ramping Up Copper, Zinc Production & Cash Cost Outlook1 • production of 7,867 t of copper, 20,647 t of zinc and 925 t of lead at a cash cost of (kt & $/lb Cu, net of by-product credits) $2.39/lb of copper • 40% increase in zinc production over Q1/22 as ZEP ramp-up
Slide 12: Zinkgruvan
Zinkgruvan Strong Q2/22 Mine and Mill Performance Zinc Production & Cash Cost Outlook1 • production of 21,265 t of zinc, 535 t of copper and 9,124 t of lead at a cash cost of (kt & $/lb Zn, net of by-product credits) $0.44/lb of zinc • both mine and mill continue to perform well; on track to meet an
Slide 13: Josemaria Project
Josemaria Project • working with the national and provincial authorities to progress the project to the next stages. Discussions regarding commercial agreements and securing of additional sectoral permits are ongoing • engineering estimated to be 23% complete; study work is ongoing, including updati
Slide 14: 2022 Guidance Summary
2022 Guidance Summary1 Production (contained metal in conc.) Cash Cost2,3 Capital Expenditures ($M) Copper (t) Candelaria (100%) 155,000 - 165,000 $1.75 Sustaining Capital Chapada 45,000 - 50,000 $2.25 Candelaria (100% basis) 400 Eagle 15,000 - 18,000 Chapada 80 Neves-Corvo 33,000 - 38,000 $1.80 Eag
Slide 15: Lundin Mining
Lundin Mining Providing the Metals Necessary for a Green Economy Our Strategy Operate, upgrade and grow a base metals Zinkgruvan portfolio that provides leading returns for our Eagle Zinc-Lead-Copper in Sweden Nickel-Copper-PGMs in U.S.A. shareholders throughout the cycle • copper dominant • long-li
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
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