Lundin cuts 2020 zinc, copper guidance, warns Neves-Corvo may not hit 2021 forecasts

Lundin Mining has cut its 2020 copper and zinc production guidance due to changes related to the Covid-19 pandemic and said forecasts for expanded zinc output next year at its Neves-Corvo mine in Portugal should no longer be counted on.

The Toronto, Canada-headquartered company, which has not experienced significant disruptions to output, concentrate shipments or its supply chain, said 2020 group zinc in concentrate production is now revised down to a guidance range of 142,000-152,000 tonnes, from a wider range of 172,000-187,000 tonnes previously.
Production of copper in concentrate is meanwhile now expected to be 264,000-293,000 tonnes this year, down from a previously narrower guidance range of 272,000-296,000 tonnes.
The revisions are in part the result of the suspension of the zinc expansion project at its Neves Corvo mine in Portugal, which had a target completion of the second half of the year.

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