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TORONTO, ONTARIO -- (Marketwire) -- 01/22/13 -- Lundin Mining Corporation (TSX: LUN)(OMX: LUMI) ("Lundin Mining" or the "Company") reports the following production results for the fourth quarter and full year 2012:
----------------------------------------------------------------------------Metal Production FY Q4(contained tonnes) 2012 2012---------------------------------------------------------------------------- Copper, wholly-owned operations 63,878 14,224 Tenke attributable (24%) 38,172 10,669 --------------------------------------------------------------------------Total Copper 102,050 24,893Zinc 122,204 29,161Lead 38,464 8,353Nickel 2,398 1,705----------------------------------------------------------------------------
Paul Conibear, President and CEO commented, "We are pleased to achieve the high-end of our production guidance targets for 2012 at each of our operations. Zinkgruvan had a particularly successful year with new records set for production of zinc, lead and copper. Tenke also set new copper production records as Phase II expanded facilities came on line. All of our assets are very well positioned to deliver a solid performance again this year."
Segmented production and guidance is as follows:
---------------------------------------------------------------------------- 2013 Guidance ------------------------- Production Production C1 Cost(contained tonnes) Results Guidance Production (b,c)----------------------------------------------------------------------------Copper Neves- Corvo 58,559 55,000-60,000 50,000-55,000 $1.80/lb Zinkgruvan 3,059 3,000-4,000 2,500-3,500 Aguablanca 2,260 1,500-2,000 4,500-5,000 ------------------------------------------------------------------ Wholly-owned 63,878 59,500-66,000 57,000-63,500 Tenke (@24%) 38,172 36,200 44,650(a) $1.03/lb ------------------------------------------------------------------ Total attributable 102,050 95,700-102,200 101,650-108,150Zinc Neves-Corvo 30,006 25,000-30,000 45,000-50,000 Zinkgruvan 83,209 77,000-83,000 73,000-78,000 $0.20/lb Galmoy (in ore) 8,989 8,500-9,000 nil ------------------------------------------------------------------ Total 122,204 110,500-122,000 118,000-128,000Lead Neves-Corvo 87 nil nil Zinkgruvan 37,246 34,000-39,000 33,000-36,000 Galmoy (in ore) 1,131 1,000-1,100 nil ------------------------------------------------------------------ Total 38,464 35,000-40,100 33,000-36,000Nickel Aguablanca 2,398 1,500-2,000 5,000-5,500 $5.00/lb----------------------------------------------------------------------------a. Freeport has provided 2013 sales guidance which has been assumed toapproximate Tenke's production.b. Cash costs remain dependent upon exchange rates (EUR/USD: 1.30, USD/SEK:6.75) and metal prices (Cu: $3.50, Zn: $0.95, Ni: $8.00, Co: $12.00).c. Cash cost is a non-GAAP measure reflecting the sum of direct costs lessby-product credits.
