VANCOUVER, BC, Aug. 12, 2024 /PRNewswire/ -- (TSX: LUN) (Nasdaq
Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining"
or the "Company") announced today that one of the three unions
representing approximately 30% of Caserones employees, or 5% of the
total workforce at the Caserones mine in Chile, have taken job action. Prior to the
strike notice, Caserones attempted, in good faith, to reach an
agreement for a new collective bargaining agreement with employees.
As a result of the strike, certain activities will gradually be
reduced at the mine in a safe and orderly manner. View PDF
version
Lundin Mining remains willing to participate in meetings to
reach a resolution, and will continue to adhere to legal
procedures, respecting the rights of all its employees, inviting
the union to engage in a constructive dialogue, and providing the
authorities with all requested information. Lundin Mining is
committed to the highest standards for integrity and transparency
and looks forward to returning its focus to safe and sustainable
mining at Caserones, which brings great benefits to the workforce
and surrounding communities.
In April of this year, Caserones was able to successfully
negotiate a new collective bargaining agreement with one of the
other two unions, which also represents approximately 30% of the
employees.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining
company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the
United States of America, primarily producing copper, zinc,
gold and nickel.
The information was submitted for publication, through the
agency of the contact persons set out below on August 12, 2024
at 14:00 Vancouver Time.
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained
herein are "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 approach to resolution and procedures
regarding the strike and its expectations regarding the return to
normal operations; 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 Preliminary Economic Assessment, Pre-Feasibility Study,
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; expansion projects and the
realization of additional value; expectations regarding, and
ability to complete, the acquisition of Filo Corp. and the 50/50
joint venture with BHP; the anticipated development and other plans
with respect to the acquisition and joint venture; the Company's
integration of acquisitions and expansions and any anticipated
benefits thereof; and expectations for other economic, business,
and/or competitive factors. 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 information.
Forward-looking information is necessarily based upon various
estimates and assumptions including, without limitation, the
expectations and beliefs of management, including that the Company
can access financing, appropriate equipment and sufficient labour;
assumed and future price of copper, zinc, gold, nickel and other
metals; anticipated costs; ability to achieve goals; the prompt and
effective integration of acquisitions; that the political
environment in which the Company operates will continue to support
the development and operation of mining projects; and assumptions
related to the factors set forth below. While these factors and
assumptions are considered reasonable by Lundin Mining as at the
date of this document in light of management's experience and
perception of current conditions and expected developments, these
statements are inherently subject to significant business, economic
and competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking information and undue reliance
should not be placed on such information. Such factors include, but
are not limited to: the inability to resolve labour disruptions;
global financial conditions, market volatility and inflation,
including pricing and availability of key supplies and services;
risks inherent in mining including but not limited to risks to the
environment, industrial accidents, catastrophic equipment failures,
unusual or unexpected geological formations or unstable ground
conditions, and natural phenomena such as earthquakes, flooding or
unusually severe weather; uninsurable risks; volatility and
fluctuations in metal and commodity demand and prices; significant
reliance on assets in Chile;
reputation risks related to negative publicity with respect to the
Company or the mining industry in general; delays or the inability
to obtain, retain or comply with permits; risks relating to the
development of the Josemaria Project; health and safety laws and
regulations; risks associated with climate change; risks relating
to indebtedness; economic, political and social instability and
mining regime changes in the Company's operating jurisdictions,
including but not limited to those related to permitting and
approvals, nationalization or expropriation without fair
compensation, environmental and tailings management, labour, trade
relations, and transportation; inability to attract and retain
highly skilled employees; risks inherent in and/or associated with
operating in foreign countries and emerging markets, including with
respect to foreign exchange and capital controls; project financing
risks, liquidity risks and limited financial resources; health and
safety risks; compliance with environmental, unavailable or
inaccessible infrastructure, infrastructure failures, and risks
related to ageing infrastructure; changing taxation regimes; the
inability to effectively compete in the industry; the inability to
currently control Filo Corp. and the ability to satisfy the
conditions and consummate the acquisition of Filo Corp. and the
joint venture transaction with BHP on the proposed terms and
expected schedule; risks associated with acquisitions, expansions
and related integration efforts, including the ability to achieve
anticipated benefits, unanticipated difficulties or expenditures
relating to integration and diversion of management time on
integration; risks related to mine closure activities, reclamation
obligations, environmental liabilities and closed and historical
sites; reliance on key personnel and reporting and oversight
systems, as well as third parties and consultants in foreign
jurisdictions; information technology and cybersecurity risks;
risks associated with the estimation of Mineral Resources and
Mineral Reserves and the geology, grade and continuity of mineral
deposits including but not limited to models relating thereto;
actual ore mined and/or metal recoveries varying from Mineral
Resource and Mineral Reserve estimates, estimates of grade,
tonnage, dilution, mine plans and metallurgical and other
characteristics; ore processing efficiency; community and
stakeholder opposition; regulatory investigations, enforcement,
sanctions and/or related or other litigation; financial
projections, including estimates of future expenditures and cash
costs, and estimates of future production may not be reliable;
enforcing legal rights in foreign jurisdictions; risks associated
with the use of derivatives; risks relating to joint ventures and
operations; environmental and regulatory risks associated with the
structural stability of waste rock dumps or tailings storage
facilities; exchange rate fluctuations; compliance with foreign
laws; potential for the allegation of fraud and corruption
involving the Company, its customers, suppliers or employees, or
the allegation of improper or discriminatory employment practices,
or human rights violations; risks relating to dilution; risks
relating to payment of dividends; counterparty and customer
concentration risks; activist shareholders and proxy solicitation
matters; estimation of asset carrying values; relationships with
employees and contractors, and the potential for and effects of
labour disputes or other unanticipated difficulties with or
shortages of labour or interruptions in production; conflicts of
interest; existence of significant shareholders; challenges or
defects in title; internal controls; risks relating to minor
elements contained in concentrate products; the threat associated
with outbreaks of viruses and infectious diseases; mining rates and
rehabilitation projects; mill shut downs; and other risks and
uncertainties, including but not limited to those described in the
"Risks and Uncertainties" section of the Company's MD&A
for the three and six months ended June 30,
2024 and the "Risks and Uncertainties" section of the
Company's Annual Information Form for the year ended December 31, 2023, which are available on SEDAR+
at www.sedarplus.com under the Company's profile.
All of the forward-looking information in this document are
qualified by these cautionary statements. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated, forecasted or intended
and readers are cautioned that the foregoing list is not exhaustive
of all factors and assumptions which may have been used. Should one
or more of these risks and uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking information.
Accordingly, there can be no assurance that forward-looking
information will prove to be accurate and forward-looking
information is not a guarantee of future performance. Readers are
advised not to place undue reliance on forward-looking information.
The forward-looking information contained herein speaks only as of
the date of this document. The Company disclaims any intention or
obligation to update or revise forward‐looking
information or to explain any material difference between such and
subsequent actual events, except as required by applicable
law.
For further information, please contact: Stephen Williams, Vice President, Investor
Relations: +1 604 806 3074, Robert
Eriksson, Investor Relations Sweden: +46 8 440 54
50
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