Jul 30, 2020

Lundin Mining defies pandemic slowdown to grow copper output

Lundin Mining
Copper
Chapada mine
candelaria mine
Jonathan Campion
1 min
The base metals producer Lundin Mining has reported that copper production at all of its facilities was higher for Q2 2020 compared with Q2 2019.
The base metals producer Lundin Mining has reported that copper production at all of its facilities was higher for Q2 2020 compared with Q2 2019...

The company’s total copper output of 65,285 tonnes for the second quarter of 2020 represents a 37% increase on the same period last year.

Lundin reported growth in its financial indicators as well, achieving net earnings of $48.3 mn for this quarter, compared with a loss of $8.6 million in the corresponding period of 2019.

This success is largely the result of operational growth at two of the company’s mines - Candelaria in Chile, where over 35,000 tonnes of copper were produced, and Chapada in Brazil, which was responsible for almost 14,000 tonnes.

Lundin Mining has managed to not be adversely affected by the Covid-19 pandemic. There have been only minimal disruption to its production operations, while receipt and delivery of goods have also largely continued as normal.  

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.

Global energy transition is boosting the market for nickel

The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.

“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.

“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”

Vale continues drilling program at Manitoba

Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.

“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.

“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”

The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history.  Mining of the Thompson orebody began in 1961.

“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.

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