Lundin Mining Corporation · TSX:LUN
Lundin Mining — Jefferies Base Metals & Battery Materials Summit 2021
24 slides from Lundin Mining's conference presentation, Sep 21, 2021
Slide 1: Jefferies Base Metals & Battery Materials Summit
Jefferies Base Metals & Battery Materials Summit September 21 st, 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 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: 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 2020 Sustainability Report • have been reporting our sustainability performance in a comprehensive, standalone document since 2010 • prepared in accordance with the Global Reporting Initiative (GRI) Standards and broadly mapped against the Sustainability Accounting Standards Board
Slide 5: H1/21 Summary Results
H1/21 Summary Results Production Payable Sales 120,811 t of copper 118,061 t of copper 68,198 t of zinc 56,056 t of zinc 75,000 oz of gold 72,000 oz of gold 10,128 t of nickel 8,376 t of nickel 12,220 t of lead 11,932 t of lead $1.55B in Sales Other Sweden 4% 7% Gold 7% Zinc Portugal 8% 14% Nickel 9
Slide 6: Dividend Framework
Dividend Framework1 Peer-Leading Regular Dividend Dividend Payout (C$/share) • regular dividend increased 50% to C$0.09/share per quarter or C$0.36/share annualized Base Dividend Performance Dividend • 125% increase over the December 2020 dividend payment • sustainable throughout the cycle; declared
Slide 7: Candelaria
Candelaria Q2/21 Operational Performance on Plan • production of 36,014 t of copper and 24,000 oz of gold at a cash cost of $1.52/lb copper Copper, Gold Production & Cash Cost1 Outlook (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) • tonnes milled, ore grades and recovery rates in
Slide 8: 2022 & 2023 Candelaria Production Outlook
2022 & 2023 Candelaria Production Outlook • currently preparing and optimizing life-of-mine as part of the annual planning process • preliminary plans for Candelaria consider: • forecast annual processing of approximately 28 Mtpa for the complex (Candelaria & PAC plants) utilizing existing infrastru
Slide 9: Chapada
Chapada Strong Mine & Mill Q2/21 Performance • production of 11,258 t of copper and 17,000 oz of gold at a cash cost of $1.32/lb of copper Copper, Gold Production & Cash Cost1 Outlook (100% basis; kt Cu, koz Au & $/lb Cu, net of by-product credits) • monthly mill throughput record of 2.2 Mt set in M
Slide 10: Chapada Exploration Drilling
Chapada Exploration Drilling Formiga 15 km north of Chapada plant 6 km NM_438: 22.7 m @ 0.89% Cu; 0.24 g/t Au (75 m) Including: 6.9 m @ 1.35% Cu; 0.27 g/t Au (79 m) Suruca 3 km Baru NE NM_427: 97.4 m @ 0.41% Cu; 0.32 g/t Au (287 m) Including 7.6 m @ 0.64% Cu; 0.50 g/t Au (314 m) Including 25.5 m @ 0
Slide 11: Neves-Corvo
Neves-Corvo Improved Q2/21 Copper Mine & Mill Performance • production of 10,317 t of copper, 16,662 t of zinc and 1,343 t of lead at a cash cost of $1.65/lb of copper Copper, Zinc Production & Cash Cost Outlook1 (kt & $/lb Cu, net of by-product credits) • copper production increased nearly 40% QoQ,
Slide 12: Neves-Corvo – ZEP
Neves-Corvo – ZEP Underground Construction Progress Upcoming Works • commenced construction of reticulation system • commence service water piping installation • shaft upgrade shutdown defined with pre-fabrication, pre-assembly, • handover electrical rooms to commissioning team structural and electr
Slide 13: Neves-Corvo – ZEP
Neves-Corvo – ZEP Surface Construction Progress Upcoming Works • paste fill expansion construction underway • complete ventilation and electrical works of main substation • initiated construction of remaining cyclone work • finish commissioning of 3rd tailings paste thickener • all remaining flotati
Slide 14: Zinkgruvan
Zinkgruvan Strong Q2/21 Mine and Mill Performance • production of 18,171 t of zinc, 641 t of copper and 5,095 t of lead at a cash cost of $0.42/lb of zinc Zinc Production & Cash Cost Outlook1 (kt & $/lb Zn, net of by-product credits) • mine and mill continue to perform well; zinc feed grades above p
Slide 15: Eagle
Eagle Impressive Cash Cost & Cash Generation Continues • production of 4,774 t of nickel and 5,227 t of copper at a first-quartile cash cost of Nickel, Copper Production & Cash Cost Outlook2 negative $2.01/lb nickel in Q2/21 (kt & $/lb Ni, net of by-product credits) • generated nearly $95M of operat
Slide 16: 2021 Guidance Summary
2021 Guidance Summary1 Production C1 Cash (contained metal in conc.) Cost2 Capital Expenditures ($M) Copper (t) Candelaria (100%) 150,000 - 155,000 $1.553 Sustaining Chapada 48,000 - 50,000 $1.103 Candelaria (100% basis) 345 Eagle 18,000 - 20,000 Chapada 65 Neves-Corvo 36,000 - 38,000 $2.103 Eagle 2
Slide 17: Appendices
Appendices lundin mining
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 2021 exploration budget $13M P&P Copper Mineral Reserves 3,583 kt contained (675,574 kt at 0.53%) M&I Copper Mineral Resources 7,854 kt contained (1,244,543 kt at 0.63%) Inferred
Slide 19: Chapada – Mineral Resources and Mineral Reserves
Chapada – Mineral Resources and Mineral Reserves1 Ownership 100% Location Goiás State, Brazil Mine life +30 years 2021 exploration budget $16M P&P Copper Mineral Reserves 1,710 kt contained (754,870 kt at 0.23%) M&I Copper Mineral Resources 2,508 kt contained (1,075,009 kt at 0.23%) Inferred Copper
Slide 20: 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 77 kt contained (3,280 kt at 2.4%) M&I Nickel Mineral Resources 83 kt contained (3,055 kt at 2.7%) P&P Copper Mineral Reserves 64 kt contained (3,280 kt at 1.9%) M
Slide 21: Neves-Corvo – Mineral Resources and Mineral Reserves
Neves-Corvo – Mineral Resources and Mineral Reserves1 Ownership 100% Location Alentejo region, Portugal Mine life +10 years 2021 exploration budget $4M P&P Zinc Mineral Reserves 1,858 kt contained (24,774 kt at 7.5%) M&I Zinc Mineral Resources 4,702 kt contained (68,352 kt at 6.9%) Inferred Zinc Min
Slide 22: Zinkgruvan – Mineral Resources and Mineral Reserves
Zinkgruvan – Mineral Resources and Mineral Reserves1 Ownership 100% Location Askersund, Sweden Mine life +10 years 2021 exploration budget $6M P&P Zinc Mineral Reserves 808 kt contained (10,270 kt at 7.9%) M&I Zinc Mineral Resources 1,644 kt contained (20,338 kt at 8.1%) Inferred Zinc Mineral Resour
Slide 23: 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 24: www.lundinmining.com
www.lundinmining.com | TSX: LUN | Nasdaq Stockholm: LUMI
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