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Lundin Mining Corp.
Summary
| Project: | Candelaria | |
|---|---|---|
| Deposit: | Candelaria | |
| Location: | Chile | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 9/1/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-9-2016: Lundin Mining Corp. announces a Resource Estimation report for its Candelaria deposit at the Candelaria project. Annual statement of mineral resources and ore reserves. The Candelaria Copper Mining Complex comprises two adjacent copper mining op | |
| Resources: | (Reserve, P+P): 482.6Mt @ 0.54% Cu, 0.13g/t Au, 1.83g/t Ag | |
| CP/QP: | [Resources]: Glen Cole (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | The Candelaria Copper Mining Complex comprises two adjacent copper mining operations that produce copper concentrates from open pit and underground mines located near Copiapó in the Atacama Province, Region III of Chile. Compañía Contractual Minera Candelaria (Minera Candelaria) is an open pit and underground mine providing copper ore to an on-site concentrator with a capacity of 75,000 tonnes per day, and Compañía Contractual Minera Ojos del Salado (Minera Ojos del Salado) comprises two underground mines: Santos and Alcaparrosa. The Santos mine provides copper ore to an on-site concentrator with a capacity of 3,800 tonnes per day, while ore from the Alcaparrosa mine is treated at the Minera Candelaria processing plant. In 2016, the operations collectively produced payable metals in concentrate (100% basis) of 161 kilotonnes of copper, 90,000 ounces of gold, and 1.39 million ounces of silver. The Candelaria Copper Mining Complex is indirectly owned by Lundin Mining Corporation (Lundin; 80 percent) and Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation (collectively, Sumitomo; 20 percent). Lundin is a diversified base metals mining company with operations and projects in Chile, the USA, Portugal, and Sweden producing copper, nickel, zinc, and lead. Lundin is a Canadian public company with offices in Toronto, Canada. Its common shares are listed on the Toronto Stock Exchange (symbol LUN) and the NASDAQ OMX market (symbol LUMI). In November of 2016, Lundin retained the services of SRK Consulting (Canada) Inc. (SRK) to visit the Candelaria Copper Mining Complex and compile a technical report pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects and Form 43-101F1. This report updates an earlier Technical Report dated September 4, 2015 and entitled “Technical Report for the Candelaria Copper Mining Complex, Atacama Province, Region III, Chile” by the same authors. It summarizes the technical information that is relevant to support the disclosure of revised Mineral Resources and Mineral Reserves estimates prepared using revised economic parameters and the positive results of recent exploration programs. The revised Mineral Resources and Mineral Reserves Statements were disclosed by Lundin on September 1, 2016. | |
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