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Lundin Mining (TSX:LUN) announced production results for the three and twelve months ended December 31, 2016.
Lundin Mining (TSX:LUN) announced production results for the three and twelve months ended December 31, 2016.
As quoted in the press release:
2016 Highlights:
The Company achieved annual production guidance for copper and nickel. Zinc production was marginally below the most recent guidance.
Candelaria’s fourth quarter capped a strong operating year with the highest quarterly copper production of the year. Eagle production met full year guidance on continued robust performance. Neves-Corvo’s zinc plant demonstrated stability with continued zinc recovery improvements, while Zinkgruvan’s performance was impacted by lower than planned zinc head grades in the final quarter.
Operations safety performance in 2016 saw the fourth straight year-over-year improvement with a Total Recordable Injury Frequency (“TRIF”) rate of 0.60 achieved at year-end.
Year-end net debt balance was approximately $290 million, including cash and cash equivalents of approximately $710 million. Tenke Fungurume related distributions totalled approximately $70 million for the year, better than previously guided.
