VANCOUVER, BC, Feb. 20,
2025 /PRNewswire/ -- (TSX: LUN) (Nasdaq Stockholm:
LUMI) Lundin Mining Corporation ("Lundin Mining" or the
"Company") is pleased to announce the appointment of Ms.
Victoria McMillan to the Company's
Board of Directors (the "Board") effective today. The Company also
announces that Director Ms. Juliana (Julie)
Lam had advised us of her personal retirement decision and
will not stand for re-election at the 2025 Annual Meeting.
Adam Lundin, Chair of Lundin
Mining's Board of Directors, commented "On behalf of the Board and
the Company's management team we wish to thank Ms. Lam for her
service and contributions to the Company. We wish her all the best
as she focuses her energy on her family and health."
"We are excited to welcome Victoria to the Lundin Mining Board"
commented Adam Lundin. "Victoria's
extensive finance knowledge, and recognized contributions make her
an ideal addition to our Board. Her financial expertise and
strategic leadership will be invaluable in guiding our Company's
growth and financial stewardship in the future. We look forward to
benefiting from her insights and experience to create long-term
value for our stakeholders."
Ms. McMillan is a Chartered Professional Accountant (CPA, CA)
and currently serves as the CFO of Versamet Royalties Corporation,
a private company. Ms. McMillan also recently completed a
4-year term from 2021-2024 as a director on the board of BC Hydro,
where she chaired the Audit and Finance Committee.
Ms. McMillan has over 20 years of financial experience working
across a variety of sectors with a focus on mining and the royalty
industry. During her career, Ms. McMillan has led financial
reporting, regulatory, treasury, tax and risk management functions.
Ms. McMillan has also held various other finance roles within the
mining sector including at two mid-tier gold mining companies where
she was involved in the execution of mergers and acquisitions, a
U.S. listing, as well as the establishment and management of a gold
sales function.
Ms. McMillan's experience includes eight years with a large
global accounting firm in both London,
United Kingdom, and Vancouver, where she was a senior manager
within the assurance practice. Ms. McMillan holds a Bachelor of
Management Studies from the University of Nottingham, England.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining
company with operations or projects in Argentina, Brazil, Chile, and the
United States of America, primarily producing copper, gold
and nickel. In December 2024 the
Company announced the sale of its European assets to Boliden. The
transaction is expected to close in mid-2025 subject to customary
conditions and regulatory approvals.
The information in this release is subject to the disclosure
requirements of Lundin Mining under the Swedish Financial
Instruments Trading Act. The information was submitted for
publication, through the agency of the contact persons set out
below on February 19, 2025 at
18:35 Pacific 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 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; the Company's integration of
acquisitions and expansions and any anticipated benefits thereof,
including the anticipated project development and other plans and
expectations with respect to the 50/50 joint arrangement with BHP;
the timing and completion of the sale of the Company's European
assets; 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, gold, zinc, nickel and other
metals; anticipated costs; ability to achieve goals; the prompt and
effective integration of acquisitions and the realization of
synergies and economies of scale in connection therewith; 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,
such information is 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: dependence on international market
prices and demand for the metals that the Company produces;
political, economic, and regulatory uncertainty in 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; risks relating to mine closure
and reclamation obligations; health and safety hazards; inherent
risks of mining, not all of which related risk events are
insurable; risks relating to tailings and waste management
facilities; risks relating to the Company's indebtedness;
challenges and conflicts that may arise in partnerships and joint
operations; risks relating to development projects; risks that
revenue may be significantly impacted in the event of any
production stoppages or reputational damage in Chile; the impact of global financial
conditions, market volatility and inflation; business interruptions
caused by critical infrastructure failures; challenges of effective
water management; exposure to greater foreign exchange and capital
controls, as well as political, social and economic risks as a
result of the Company's operation in emerging markets; risks
relating to stakeholder opposition to continued operation, further
development, or new development of the Company's projects and
mines; any breach or failure information systems; risks relating to
reliance on estimates of future production; risks relating to
litigation and administrative proceedings which the Company may be
subject to from time to time; risks relating to acquisitions or
business arrangements; risks relating to competition in the
industry; failure to comply with existing or new laws or changes in
laws; challenges or defects in title or termination of mining or
exploitation concessions; the exclusive jurisdiction of foreign
courts; the outbreak of infectious diseases or viruses; risks
relating to taxation changes; receipt of and ability to maintain
all permits that are required for operation; minor elements
contained in concentrate products; changes in the relationship with
its employees and contractors; the Company's Mineral Reserves and
Mineral Resources which are estimates only; payment of dividends in
the future; compliance with environmental, health and safety laws
and regulations, including changes to such laws or regulations;
interests of significant shareholders of the Company; asset values
being subject to impairment charges; potential for conflicts of
interest and public association with other Lundin Group companies
or entities; activist shareholders and proxy solicitation firms;
risks associated with climate change; the Company's common shares
being subject to dilution; ability to attract and retain highly
skilled employees; reliance on key personnel and reporting and
oversight systems; risks relating to the Company's internal
controls; counterparty and customer concentration risk; risks
associated with the use of derivatives; exchange rate fluctuations;
the completion of the sale of the Company's European assets; 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 year ended December 31,
2024 and the "Risks and Uncertainties" section of the
Company's Annual Information Form for the year ended December 31, 2024, which are available on SEDAR+
at www.sedarplus.ca 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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