Lundin Mining Corporation Announced Net Earnings of $50.1 Million for Q1

Lundin Mining Corporation (TSX:LUN, OMX:LUMI) announced their results for Q1, including net earnings of $50.1 million ($0.09 per share) for the quarter ended March 31, 2013.

As quoted in the press release:

Tenke achieved a quarterly record in mining, milling and copper production: First quarter production amounted to 54,462 tonnes of copper cathode aided by record throughput, excellent copper mill feed grades and high plant recoveries. Attributable operating cash flow from Tenke for the first quarter of 2013 was $43.6 million.

Lundin’s President and CEO, Paul Conibear, said:

Tenke was clearly the highlight of the quarter, as copper production set another quarterly record and we received cash returns of $45 million from the operation. Based on current metal prices and operating conditions, we expect to continue to receive meaningful amounts of cash distributions from Tenke throughout the remainder of the year.

To view the whole press release, click here.