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AddressSuite 2101, 885 West Georgia Street, Vancouver BC, Canada V6C 3E8 Phone604-689-7842 Fax604-689-4250 Emaillundinmining@namdo.com Websitewww.lundinmining.com DescriptionThe Company is engaged in the mining of and exploration for base metals. Employees1,500 (2006) Fiscal YearDec 31 Assets$2,829,600,000 (2006)
$406,814,000 (2005)
Revenue$539,729,000 (2006)
$192,073,000 (2005)
Net Income$152,949,000 (2006)
$29,963,000 (2005)
AuditorPricewaterhouseCoopers LLP Ownership
ClassPublicly-traded corporation StocksTSX: LUN StatusCommon shares listed on the Toronto Stock Exchange; Federal Charter, 1994. Related
Companies Lundin Mining AB, Subsidiary
North Atlantic Natural Resources AB (37% interest), Affiliate
Financial Post
Business 500
Ranking414 (2006) Other
LocationsZinkgruvan zinc-lead-silver mine in south central Sweden; 37% interest in Storliden copper-zinc mine in the Skellette District of northern Sweden; Fungurume copper-cobalt deposit under development in Democratic Republic of Congo; copper-gold exploration project in the Norrbotten Mining District of northern Sweden; other mineral properties in Argentina and Chile. Other InfoDuring 2007 the Company acquired the following companies, all of which were publicly-traded on the Toronto Stock Exchange: Tenke Mining Corporation (acquired in July), Rio Narcea Gold Mines, Ltd. (acquired in August), and EuroZinc Mining Corporation (acquired in October). Similar
CompaniesInmet Mining Corporation Imperial Metals Corporation Teck Cominco Limited Pacific Rim Mining Corp. Nord Resources Corporation Sherritt International Corporation Board
MembersLukas H. Lundin - Chairman
Colin K. Benner - Vice Chairman
Donald K. Charter - Boardmember
John H. Craig - Boardmember
Brian D. Edgar - Boardmember
David F. Mullen - Boardmember
Tony O'Reilly - Boardmember
Dale C. Peniuk - Boardmember
William A. Rand - Boardmember
Phil Wright - Boardmember
Executive
OfficersPhil Wright - President & CEO
Anders Haker - CFO
Jean R. Florendo - Corporate Secretary

 

http://www.lundinmining.com/i/pdf/2006AnnualReport.pdf
http://www.lundinmining.com/s/Mission.asp
The objective of Lundin Mining's operations is to create shareholder value by building and maintaining effective operations, while ensuring that the safety, environmental and social responsibilities of the Company are given primary focus.


Strategy

• Optimize performance of existing operations
• Brownfield exploration near existing mines
• Greenfield exploration in Portugal, Sweden, Spain and Ireland
• Pursue opportunities for accretive acquisitions: operational mines
• development projects
• exploration projects

Strategic investments in promising projects

Financial objectives
The primary objective of Lundin Mining is to create value for its shareholders through profitable operations and growth. Value is generated by a combination of cash flow from producing assets and through exploration and prudent acquisitions. Cash flow from producing assets can be improved through professional management, leading to higher production levels and lower production costs. The goal of exploration is to add to the company's reserves and resources, while prudent acquisitions can improve cash flow as well as add reserves and resources. The company intends to fund acquisitions primarily through internally generated cash flow.

Oben drüber auch noch der Link zum Annual Report 2006, für mich ein sehr gefestigtes Unternehmen.

 

Through the acquisition of the Zinkgruvan zinc/lead mine in 2004, Lundin Mining became an active player in the mining industry. Since then Lundin Mining has grown into a global diversified base metals mining company capable of competing on the world stage with a strong asset base and skilled employees. Apart from Zinkgruvan, Lundin Mining owns the Galmoy zinc/lead mine in Ireland, the Neves-Corvo and Aljustrel zinc and copper mines in Portugal as well as the Aguablanca nickel mine in Spain. In addition, Lundin Mining holds an extensive exploration portfolio and interests in international ventures and development projects including the world class Tenke Fungurume copper/cobalt project in the DRC and the Ozernoe zinc project in Russia.

The objective of Lundin Mining's operations is to create shareholder value, through building and maintaining effective operations, with the foundation built on ensuring that safety, environ-mental and social responsibility issues are given primary focus.

Lundin Mining intends to grow by developing exploration projects into commercial operations, through acquisitions of profitable production assets that meet Lundin Mining's requirements and through consistent improvements of existing assets.

 

http://www.lundinmining.com/s/Reserves.asp

Neves-Corvo, Portugal

December 31, 2006
Tonnes
Copper%
Zinc%
Lead%
Tin%
Mineral Reserves Proven, Copper 6,230,129 5.2 1.2 0.2 0.2 Probable, Copper 11,008,977 4.7 0.7 0.2 0.2 Proven & Probable, Copper 17,239,107 4.9 0.8 0.2 0.2 Proven, Zinc 144,809 0.3 6.4 1.3 0.1 Probable, Zinc 10,784,915 0.4 7.9 1.5 0.1 Proven & Probable, Zinc 10,929,725 0.4 7.9 1.5 0.1 Mineral Resources Measured, Copper 6,589,245 6.1 1.5 0.3 0.2 Indicated, Copper 12,832,000 5.3 0.8 0.3 0.2 Measured & Indicated, Copper 19,421,245 5.6 1.0 0.3 0.2 Measured, Zinc 1,233,738 0.4 4.9 1.0 0.1 Indicated, Zinc 29,437,805 0.6 6.2 1.2 0.3 Measured & Indicated, Zinc 30,671,543 0.6 6.2 1.2 0.3 Inferred, Copper 3,002,102 4.5 0.8 0.2 0.1 Inferred, Zinc 25,464,727 0.6 5.5 1.5 0.1
The 2006 Neves-Corvo Mineral Resource data is inclusive of the Mineral Reserves. Reserves and resources for the Neves-Corvo mine were calculated by the mine's geology and engineering department under the guidance of Nelson Pacheco and Carlos Moreira, and audited by Wardell Armstrong International (WAI). Qualified Persons for the 2006 Resource and Reserve estimates are WAI personnel Mark L. Owen, Associate Director and Principal Geologist, Owen Mihalop, Senior Mining Engineer and Anton Kornitskiy, Senior Resource Geologist.

Zinkgruvan, Sweden

December 31, 2006 Tonnes Zinc
% Lead
% Silver
g/t Copper
% Mineral Reserves Proven, Zinc 6,635,000 10.0 5.5 113 - Probable, Zinc 2,013,000 8.9 2.7 59 - Proven & Probable 8,648,000 9.7 4.8 100 - Mineral Resources Measured, Zinc 537,000 6.3 0.9 24 - Indicated, Zinc 1,251,000 9.1 3.3 85 - Measured & Indicated, Zinc 1,788,000 8.3 2.6 67 - Indicated, Copper 2,800,000 0.5 0.0 32 2.9 Inferred, Zinc 7,790,000 10.6 4.4 101 - Inferred, Copper 890,000 0.2 0.0 28 3.1
The 2006 Zinkgruvan Mineral Resource data is exclusive of the Mineral Reserve. The Qualified Persons responsible for the Zinkgruvan reserve and resource estimates were Mr. Per Hedström and Mr. Lars Malmström, employees of the Zinkgruvan mine and members of the Australian Institute of Mining and Metallurgy.

Aljustrel, Portugal

December 31, 2006 Tonnes Copper
% Zinc
% Lead
% Silver
g/t Mineral Reserves Probable, Zinc 14,400,000 0.3 5.5 1.8 62.6 Probable, Copper 1,600,000 2.2 1.0 0.3 14.3 Mineral Resources Measured, Zinc 2,582,000 0.3 5.2 1.8 52.2 Indicated, Zinc 20,997,000 0.2 5.7 1.8 61.8 Measured & Indicated, Zinc 23,579,000 0.2 5.7 1.8 60.8 Measured, Copper 260,000 1.8 1.3 0.4 20.3 Indicated, Copper 6,660,000 2.1 1.1 0.4 17.1 Measured & Indicated, Copper 6,920,000 2.1 1.1 0.4 17.2 Inferred, Zinc 9,321,000 0.3 5.3 1.6 51.2 Inferred, Copper 1,990,000 2.1 0.8 0.2 11.7
The 2006 Aljustrel Mineral Resource data is inclusive of the Mineral Reserve. The Qualified Persons responsible for the Aljustrel resource and reserve estimates were Guy Lauzier, P.Eng., Bob Carmichael, P.Eng., and Neil Burns, P.Geo, all of whom are employees of Lundin Mining.

Galmoy, Ireland

December 31, 2006 Tonnes Zinc
% Lead
% Silver
g/t Mineral Reserves Proven 2,349,000 15.4 4.4 42 Probable 228,000 11.8 2.4 20 Proven & Probable 2,577,000 15.0 4.3 40 Mineral Resources Measured 997,000 17.9 4.3 40 Indicated 461,000 14.0 2.1 15 Measured & Indicated 1,458,000 16.7 3.6 32 Inferred 89,000 13.0 2.9 26
The 2006 Galmoy Mineral Resource data is exclusive of the Mineral Reserve. The Qualified Persons responsible for these estimates were EurGeol, Mr. Mike Lowther, P.Geo., MIMMM CEng,, Mine Superintendent; and EurGeol, Mr. Paul McDermott, Head of Technical Services.

Storliden, Sweden

December 31, 2006 Tonnes Zinc
% Copper
% Gold
% Silver
g/t Mineral Reserves Proven 224,000 6.8 2.0 0.2 16.1
The Qualified Person responsible for these estimates is Mr. Adam Wheeler, C.Ing, Eur,Ing, MIMM, an independent consultant. The work has been completed with assistance from both NAN and Boliden technical personnel. This work also included visits to the mine itself.

Tenke Fungurume, DRC

May 20,2006 K-Tonnes TCu % ACu % TCo % ACo % Measured Resources Oxide 58,551 3.57 3.34 0.34 0.29 Mixed 64,658 3.27 1.84 0.33 0.21 Sulphide 3,107 4.37 0.48 0.36 0.12 Total 126,316 3.44 2.50 0.33 0.24 Indicated Resources Oxide 33,714 2.69 2.45 0.33 0.26 Mixed 74,137 2.42 1.56 0.26 0.17 Sulphide 937 3.75 0.39 0.43 0.12 Total 108,788 2.52 1.82 0.28 0.20 Measured + Indicated Resources Oxide 92,266 3.25 3.01 0.34 0.28 Mixed 138,794 2.82 1.69 0.29 0.19 Sulphide 4,044 4.22 0.46 0.37 0.12 Total 235,104 3.01 2.19 0.31 0.22 Inferred Resources Oxide 70,152 2.75 2.45 0.20 0.14 Mixed 176,043 2.61 1.61 0.20 0.14 Sulphide 17,557 1.82 0.16 0.13 0.02 Total 263,752 2.60 1.73 0.19 0.13
TCu - Total copper grade
ACu - Acid soluble copper grade
TCo - Total cobalt grade
ACo - Acid soluble cobalt grade

Tenke Fungurume resource estimates have been prepared in accordance with NI 43-101, by independent qualified persons John Nilsson, P.Eng. of Nilsson Mine Services Ltd. and Abdullah Arik, B.Sc.M.Sc. of Mintec lnc. Their report dated May 20, 2006 is available on www.sedar.com.

 

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