Lundin Mining Corporation · TSX:LUN
Lundin Mining — PI Financial Presents Lundin Group of Companies (January 2021)
14 slides from Lundin Mining's conference presentation, Jan 14, 2021
Slide 1: PI Financial Presents Lundin Group of Companies
PI Financial Presents Lundin Group of Companies January 14, 2021 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 - ~65-70% copper • competitive cost position Eagle Zinkgruvan • low-risk mining jurisdictions1 Nickel-Copper-PGMs in U.S.A. Zinc-Lead
Slide 4: Responsible Mining
Responsible Mining • we recognize the important role of the metals we produce and are committed to mining these metals responsibly • Lundin Mining has been reporting on our sustainability performance in a comprehensive, standalone document since 2011 • we have demonstrated sustainable improvements i
Slide 5: Notable Recent Events
Notable Recent Events Anticipated 50% Dividend Increase1 • increase in the quarterly dividend to C$0.06 per common share, C$0.24 annualized, anticipated to be declared in February 2021 • expected increase reflects the strong free cash flow outlook from current operations. Well positioned to enhance
Slide 6: Increasing Production Profile
Increasing Production Profile1,2 Copper Zinc Gold 300 kt 225 kt +60% 175 koz 275 kt 200 kt +30% 150 koz 250 kt 175 kt ~110,000 oz of unencumbered production in 2021 225 kt 150 kt 125 koz 200 kt 125 kt 175 kt 100 kt 100 koz 2020 2021 2022 2023 2020 2021 2022 2023 2020 2021 2022 2022 1. Production pro
Slide 7: Candelaria
Candelaria Increase in Production and Reduction in Cash Costs Copper, Gold Production & Cash Costs1 Outlook • copper production forecast to increase nearly 45% in 2021, over the impacted-2020, (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) primarily on improving copper head grades
Slide 8: Chapada
Chapada Strong Operational Performance Continues • returned to full processing capacity following the installation of the remaining repaired Copper, Gold Production & Cash Costs1 Outlook motor on the ball mill on December 20, 2020 (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) • pr
Slide 9: Neves-Corvo
Neves-Corvo Zinc Expansion Project Officially Restarted January 2021 • ZEP to double current zinc production capacity and improve per unit operating costs • mobilizing a smaller number of contractors with an extended schedule given the Copper, Zinc Production & Cash Costs Outlook current safety requ
Slide 10: Zinkgruvan
Zinkgruvan Positioned for Strong Start to 2021 • plans call for mining of high-grade stopes driving increased zinc production into 2021 Zinc Production & Cash Costs Outlook • zinc production forecast to increase to 71,000-76,000 t in 2021 at cash costs of (kt & $/lb Zn, net of by-product credits) $0
Slide 11: Eagle
Eagle To Continue to Generate Impressive Free Cash Flow1 • first-quartile cash costs with minimal Nickel, Copper Production & Cash Costs Outlook capex to continue through 2025 (kt & $/lb Ni, net of by-product credits) • nickel production increased nearly 45% and copper over 25% in Q3/20 compared to
Slide 12: 2021 Guidance Summary
2021 Guidance Summary1 Production C1 Cash (contained metal in conc.) Cost2 Capital Expenditures ($M) Copper (t) Candelaria (100%) 172,000 - 182,000 $1.353 Sustaining 3 Chapada 48,000 - 53,000 $1.10 Candelaria (100% basis) 345 Eagle 17,000 - 20,000 Chapada 65 Neves-Corvo 35,000 - 40,000 $2.203 Eagle
Slide 13: Lundin Mining
Lundin Mining High Quality Meaningful Scale Financial Strength Competitive Mines Growth Oriented • demonstrated operational excellence and • increasing copper, zinc and gold production • proven track record for rigorous investment culture of continuous improvement profiles approach, focused on value
Slide 14: www.lundinmining.com
www.lundinmining.com | TSX: LUN | Nasdaq Stockholm: LUMI
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