-1.7 C
Belgrade
Supported byspot_img
spot_img

Lundin Mining to progress zinc expansion project at Neves-Corvo mine, Portugal

Member of Europium Groupspot_img
Supported byspot_img

Canadian company Lundin Mining is to proceed with the zinc expansion project at Neves-Corvo mine in Portugal and seek the necessary approvals.

A feasibility study conducted by the company for the expansion project determined that following expansion, the annual zinc production from the mine will increase to 180,000t.

The average zinc production is expected to be around 150,000tpa between 2020 and 2030. In addition, the lead production is also set to increase.

Supported by

Under the findings of the study, the pre-production capital costs are estimated to be €257m.

Lundin Mining president and CEO Paul Conibear said: “The results of the feasibility study on the zinc expansion project confirm strong project economics and demonstrate significant incremental value to our Neves-Corvo operations.

“The project will significantly increase metal production and further increases the mine’s competitiveness to the continuing benefit of our shareholders, employees and the local economy.

“Early project activities are underway to facilitate a rapid start following permit approval, and, in the meantime, we continue with increased exploration efforts to find additional mineable copper and zinc mineralisation.”

The feasibility study indicated an incremental post-tax net present value of €180m at an 8% discount rate, an internal rate of return of 22%, and an estimated payback period of less than four years from production start.

The company aims to maximise production from the existing zinc mineral reserve estimate and development of a deeper higher zinc grade area known as Lombador Phase 2.

The expansion project features the installation of a new underground crusher and conveyor system to handle ore from the Lombador orebody and upgrades to the existing hoisting shaft.

Alongside expanding the capacity of the zinc processing plant to 2.5Mtpa, the project seeks to expand the tailings management facility, as well as other site infrastructure.

Recently granted ‘Project of National Interest’ status, the expansion project is subject to approval of the environmental impact assessment and amendments to the environmental licence.

Source: mining-technology

Supported byElevatePR Digital

Related News

Important Announcement to Our Readers

After years of dedicated efforts to promote the European mining industry and foster a balanced approach between environmental conservation and the responsible exploitation of...

India set to decide on import restrictions for metallurgical coke

India is set to make a decision soon on whether to implement import restrictions on metallurgical coke, a crucial ingredient in steelmaking. According to...

AMMC targets major production milestones by 2030 with ongoing development projects

Almalyk Mining and Metallurgical Combine (AMMC) has set ambitious production goals for 2030, aiming to achieve annual output of 500,000 tons of copper, 50...

Kazatomprom partners with Jordan uranium mining company on joint uranium exploration and extraction

Kazatomprom, Kazakhstan's national atomic company, has entered into a collaboration with Jordan Uranium Mining Company (JUMCO) to jointly explore and extract uranium in Jordan....
Supported by
Supported by
Supported by
error: Content is protected !!