Lundin Mining Provides Update on Chapada Operations

TORONTO, Sept. 30, 2020 /PRNewswire/ -- (TSX: LUN) (Nasdaq: LUMI) (Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") provides an initial update on the anticipated timeline to resume processing at the Chapada mine in Brazil. Activities are underway to resume partial processing within one week, with a return to full capacity currently expected to be achieved within 60 days. View PDF version

The four mill motors that experienced damage have been removed and are currently being transported to repair facilities within Brazil. The motors are expected to arrive at the facilities later this week, with confirmation of the extent of repair required, cost and expectation of timing to be confirmed early next week. Repair costs are not expected to be material.

The onsite spare motor has been installed on the SAG mill. The second spare motor is nearing completion of its rehabilitation and, pending final testing, is anticipated to arrive at the mine early next week. The Company is anticipating and making preparations to resume processing using these two motors on the SAG mill. It is expected that the rate of production would be approximately 30% of normal production capacity based on past experience operating this SAG mill circuit without the ball mill.

The Company has also adjusted other activities in response to the interruption to normal processing. Mill maintenance originally planned for October of this year is being brought forward. Planning is underway to undertake crusher and conveyor maintenance. Mining activities have been refocused on building run of mine ore stockpile at the crushers, as well as waste removal and development activities.

The Company will provide additional information and updates on the operation's 2020 guidance as appropriate.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations in Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on September 29, 2020 at 20:00 Eastern Time.

Cautionary Statement in Forward-Looking Information

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; and the Company's integration of acquisitions and any anticipated benefits thereof. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements.