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Lundin Mining Update on Readiness and Response to COVID-19

Mining News - Published on Thu, 26 Mar 2020

Image Source: Lundin Mining Coronavirus COVID-19
Lundin Mining Corporation announced that the Company and each of its operations are continuing to manage and respond to COVID-19 within the framework of the Company's Pandemic Response Plan, recommendations of health authorities and local and national regulatory requirements. It said “COVID-19 is a global threat which requires a united response from governments, industry and our communities to ensure the safety, health and well-being of all. Lundin Mining has taken numerous steps to ensure needs are being addressed in the communities and regions in which we operate. Our operations have shared action plans and preventative measures being implemented, while seeking and considering input from our employees, unions, contractors, and communities to ensure we are delivering responsive actions consistent with broader efforts. Further, we are actively providing emergency support in the form of community donations of emergency funding and supplies. These efforts will continue to be focused on reducing the spread of the virus and supporting local health infrastructure.”

Lundin Mining has implemented a number of measures including, but not limited to:

All operations and offices have implemented travel restrictions, surveillance, monitoring and response plans to reduce the risk of COVID-19 exposure and outbreak, including health screening of contractors, visitors and employees when appropriate.

Employees and contractors who have had incidental contact or exposure to someone who has been diagnosed with the COVID-19 virus, as well as those who have travelled internationally, and at some operations domestically, have been instructed to stay at home for 14-days regardless of whether they are showing symptoms. Suspected cases are being closely monitored and reported to health authorities where appropriate.

We are taking steps to limit visitors, contractors, and employees to our operations, and where necessary temporarily suspending activities. On March 15, 2020, we announced that construction and commissioning of our Zinc Expansion Project at Neves-Corvo would be placed on hold to reduce the risk to our local communities, employees and contractors, as the workforce for the project includes many contract employees who travel from other regions of Portugal and internationally. Additionally, at several of our operations we have identified and curtailed non-essential activities, such as waste mining and exploration to reduce exposure risk with less people at and commuting to site.

A portion of our workforce is working from home to reduce interactions through commuting or close contact with co-workers. This group, at certain operations, includes employees that fit COVID-19 risk groups determined by public health authorities. We have temporarily closed many of our community and satellite offices, while continuing to provide services virtually.

Across all operations we have limited access and implemented new procedures for areas where large groups congregate like canteens, cafeterias, and change rooms. We have also enacted measures to promote social distancing including modifying transportation and shift change routines. Awareness campaigns are being carried out actively with our employees and contractors.

Operational & Guidance Update

There has been no material impact to production or shipment of concentrate from any of the Company's operations to date as a result of COVID-19. Additionally, there has been no significant disruption to the supply chain of the Company's operations. Lundin Mining and each of its operations continue to monitor and implement business continuity measures to mitigate and minimize any potential impacts of the pandemic that might emerge on our operations, supply chain and commercial activities.

As previously announced on March 15, 2020, construction and commissioning activities directly related to the Zinc Expansion Project at the Neves-Corvo operation in Portugal have been temporarily suspended until further notice. The Company is continuing to assess the impacts of the temporary suspension of the project on the timelines and budget and will provide an update once the assessments have been completed. Previously provided zinc production and capital cost guidance for the Neves-Corvo operation, which includes the Zinc Expansion Project, should no longer be relied upon.

Additionally, in preparing for what could be a sustained period of depressed prices for our primary metals, the Company is actively identifying and reviewing measures across our operations and offices to reduce operating costs and defer discretionary capital and exploration expenditures. The range of measures being assessed include possible curtailment of non-essential projects and studies, deferral of waste mining, reduction in exploration spending, and mine and processing plan modifications. As such, current production, C1 cash cost, exploration spending and capital cost guidance for all operations is under review and may be amended to reflect necessary modifications to our plans. The Company expects to provide an update on these measures and any resulting revisions to guidance not later than the release of First Quarter 2020 Results.

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.

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Posted By : Yogender Pancholi on Thu, 26 Mar 2020
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