Lundin Mining

The Lundin Mining Corporation is a Swedish- Canadian junior mining company with headquarters in Toronto.

History

Lundin Mining was on 9 September 1994 by the Swedish entrepreneur Adolf H. Lundin as South Atlantic Diamonds Corp.. founded, its present name was given when the company IPO on the Toronto Stock Exchange 2004. 2006 merged Lundin Mining and EuroZinc Mining Corporation. In January 2007, the company conducted a 1:3 stock split. Through the acquisition of the Canadian Tenke Mining in April 2007, Lundin Mining got a 24.75 - percent stake in the Tenke Fungurume deposit in the Democratic Republic of Congo. In September 2007, the shares of the American Stock Exchange were taken and brought to the New York Stock Exchange, the shares were still being traded on the Stockholm Stock Exchange. Early 2013 bought the companies involved in the Tenke Fungurume deposit together a further processing plant for cobalt in the Finnish Kokkola of the U.S. OM groups, thus the cobalt can be refined even in the company before it is Sold.

Locations

Lundin Mining has four mines, at the Tenke Fungurume deposit is the participation of a restructuring since 2012 at 24 percent.

Galmoy Mine

The Galmoy mine is located in County Kilkenny, mining ended in 2012 and 2013, the last ore to be processed. In the mine of zinc and lead are surrounded by carbonate which partially very erzreiche rock was mainly mined at a depth of 100-160 meters.

Zinkgruvan

200 km southwest of the Swedish capital of Stockholm, near the north shore of Lake Vättern, is the Zinkgruvan. The occurrence has been known since the 16th century, in 1857 began the reduction in large scale by the Belgian company Vieille Montagne. The mid-1970s, the mine was greatly enlarged in 2004 bought Lundin Mining it by the then owner Rio Tinto Group. The Zinkgruvan is located in the Proterozoic Bergslagen greenstone belt, mainly occurring minerals are sphalerite and galena. In addition to zinc, lead and copper, the deposit also contains silver, this is obtained not by Lundin Mining but of Silver Wheaton from the rock. The mine is supposed to be until at least 2025 into operation.

Neves Corvo copper mine

The Neves - Corvo copper mine is located in the Portuguese region of Alentejo. The deposit was discovered in 1977, the company Somincor established to exploit. In addition to copper was found high proportions of tin, its degradation was later however. 2006 Lundin Mining bought the EuroZinc Mining Corporation, which owned the mine. Neves Corvo is in the Pyrite Belt of südiberischen peninsula and is a volcanogenic massive sulphide deposit, the silver present is not degraded.

Mining Aguablanca

The copper and nickel mining Aguablanca is located in the Spanish Community of Extremadura, about 100 kilometers north of Seville. The area was examined for copper and nickel since the mid- 1980s, the deposit at Aguablanca was discovered in 1993. In November 2003, the construction of infrastructure, and in January 2005 the commercial production began, Lundin Mining bought the mine in 2007. Below the ore deposit is gabbroides rock is mafic and ultramafisch. In December 2010, a landslide occurred in the open pit, which is why in 2011 the promotion rested and was resumed in the third quarter of 2012.

Tenke Fungurume

Tenke Fungurume lies in the Congolese province of Katanga, in the so-called Copperbelt. Main owner of the mine, be promoted in the copper and cobalt, and operated by the company Phelps Dodge, which is the mid-2000s, the infrastructure built. In 2007, Lundin Mining 24.64 percent of Tenke Fungurume by buying Tenke Mining, in March 2012, this proportion was reduced to 24 percent. Frequently occurring minerals are malachite, chrysocolla, bornite and Heterogenite, the copper and cobalt found in chalcocite, digenite, bornite and Carrolit. The capacity of the treatment plants are enlarged, the deposit shall in future have a significantly increased production volumes.

Annual production

Annual production of Lundin Mining in tons, including the Tenke Fungurume mine.

Criticism

The operators of Tenke Fungurume accused that the local population has always get it worse since the opening of the mine. They previously operated agriculture and built in small ore from mines, open pit, whole villages were relocated and their population now suffers from extreme poverty. Promised schools and hospitals were not built, since a report in 2008 in 2012 had not changed.