The Conversation (0)
Lundin Mining has reported cash flows of US$172.9 million generated from operations in its first quarter of the year.
Lundin Mining (TSX:LUN) has reported cash flows of US$172.9 million generated from operations in its first quarter of the year.
The company reported that despite lower copper production compared this time last year, production and costs across all operations and for all metals were in line with expectations.
As quoted in the press release:
President and chief executive officer of Lundin Paul Conibear said “we are pleased with our performance in the first quarter. Operational performance was in line with plan, with particularly strong results from Neves-Corvo (Portugal) and Zinkgruvan (Sweden). We have improved cash cost guidance at Eagle (US), and are well positioned to deliver the full year production outlook at each operation.
Excellent progress continues on exploration and multiple projects to further improve the value of our operations. At the Neves-Corvo zinc expansion project, underground development of the conveyor ramps and crushing station area is more than 50 percent complete and surface work has commenced. Eagle East ramp development continues ahead of schedule. At Candelaria (Chile), continuous placement of tailings is underway in the commissioning of Los Diques, ahead of schedule. The Candelaria mill optimization, underground production expansions, and mine fleet reinvestment initiatives are all advancing well in support of delivering greater value over the improved life-of-mine plan.”
Click here to view the full Lundin Mining Corporation (TSX:LUN) press release.
