Castro Verde, Beja, Portugal, Feb. 3, 2025 (Lusa) - Production of copper and zinc concentrates at Portugal's Neves-Corvo mine, in the Alentejo district of Castro Verde, in 2024 was below the initial forecasts of the company that owns it.
In a statement, consulted by the Lusa news agency, the Swedish-Canadian multinational Lundin Mining, which still owns Somincor, the concessionaire for the mine located in the district of Beja, revealed that in 2024 a total of 109,571 tonnes of zinc concentrate left Neves-Corvo, 759 more than the previous year.
According to information from the Toronto-based company (Canada), this quantity ended up being lower than initially forecast, which was a production of between 120,000 and 130,000 tonnes, and also the revised forecasts, which pointed to 111,000 to 116,000 tonnes.
In copper, production in Neves-Corvo last year was 28,228 tonnes, 5,595 less than the previous year.
This is below the company's initial forecasts for 2024, which pointed to production of between 30,000 and 35,000 tonnes.
Even so, according to Lundin Mining's statement, copper production at Neves-Corvo in 2024 ended up being within the company's revised figures, which ranged from 27,000 to 30,000 tonnes.
Despite these results at the Neves-Corvo mine in Alentejo, Lundin Mining ended 2024 with a record in its annual copper and zinc production, with a total of 369,067 and 191,704 tonnes, respectively.
In the case of zinc, the Neves-Corvo mine ends up being responsible for more than half of the total production of zinc concentrate in Lundin Mining's ‘universe’.
Quoted in the statement, the CEO of the Swedish-Canadian multinational, Jack Lundin, considered that 2024 turned out to be "a transformative year for the company".
He also added that the sale of Neves-Corvo and the Zinkgruvan mine in Sweden to the mining company Boliden AB should be "finalised by the middle of the year".
Formed on 24 July 1980, Somincor is the concessionaire for the Neves-Corvo mine, which produces mainly copper and zinc concentrates, as well as silver and lead, and where around 2,000 people work.
The company has been linked to the Swedish-Canadian group Lundin Mining for around two decades and is the largest zinc mine in Europe and the sixth largest copper mine on the European continent, as well as the largest employer in the region.
In addition to Neves-Corvo, Lundin Mining owns the Candelaria and Caserones mines (both in Chile), Chapada (Brazil), Filo del Sol and Josemaria (Argentina), Eagle (United States) and Zinkgruvan (Sweden).
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