TORONTO, July 27, 2022 /PRNewswire/ -- (TSX: LUN) (Nasdaq
Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining"
or the "Company") is pleased to announce the appointment of Ms.
Natasha Vaz to the Company's Board
of Directors (the "Board") effective August
1, 2022. The Company is also pleased to announce the
appointments of:
- Mr. Juan Andres Morel, Senior
Vice President ("SVP") and Chief Operating Officer ("COO")
- Mr. Teitur Poulsen, SVP and Chief Financial Officer
("CFO")
- Mr. David Dicaire, SVP,
Josemaria Project
- Ms. Kristen Mariuzza, SVP,
Sustainability, Health and Safety
Ms. Catherine Stefan, Chair of
Lundin Mining's Board of Director's Corporate Governance and
Nominating Committee, commented, "Natasha's executive-level
operational-leadership will bring valuable new perspectives to our
Board, rooted with current context. Her appointment is part of
ongoing renewal, focused on ensuring the Board retains the skills
and expertise to drive continued success of the Company."
"Natasha has a proven track-record of operational expertise.
On behalf of management, I would like to welcome Natasha to Lundin
Mining's Board of Directors and look forward to her insights and
contributions," added Mr. Peter
Rockandel, President and Chief Executive Officer ("CEO").
"I am also very pleased to announce the appointment of four
exceptional leaders to our executive team. Their depth of
experience and proven leadership will be invaluable additions, and
I look forward to working with each of them as we continue to
develop Lundin Mining into a world-class base metal producer. I
would like to thank Jinhee and Peter for their many contributions
to Lundin Mining."
Ms. Vaz is currently the Executive Vice President ("EVP") and
COO leading Agnico Eagle Mines' Operations and Project Development
teams for Ontario, Australia and Mexico. Prior to her appointment, she held
progressively senior roles with Kirkland
Lake Gold, including COO, SVP, Technical Services and
Innovation, Vice President ("VP"), Technical Services. Earlier in
her career, Natasha served as VP, Technical Services for Tahoe
Resources, and over a 10-year tenure with Lake Shore Gold she held
several operational and technical services roles. Natasha is the
current chair of the Board of Directors of the Ontario Mining
Association.
Executive Leadership Appointments
Mr. Morel will join Lundin Mining's Executive Leadership team as
SVP and COO on August 1, 2022, when
Mr. Peter Richardson, the Company's current SVP and COO
is departing the Company. Juan
Andres is a mining executive with an exceptional
track-record with over 30 years in the industry. He has
held senior positions in operations and project development before
moving into executive roles. More recently, Juan Andres was General Manager Mine Operations
for BHP's Escondida operation in Chile, currently the world's largest copper
mine based on capacity. From 2005 to 2017, Juan Andres held progressively senior roles with
Antofagasta Minerals, including Head of Operations at Los
Pelambres, Executive Director of Antofagasta's international office, General
Manager of the El Tesoro
operation, and Chief of Technical Services. Earlier in his career,
Juan Andres spent seven years with
CODELCO in Chile as Chief Strategy
Officer of the El Teniente Division, Director of Corporate
Operational Excellence and Chief Open-Pit Mine Planning, amongst
other roles.
Mr. Poulsen will join Lundin Mining as SVP and CFO on
September 1, 2022, transitioning from
Ms. Jinhee Magie, the Company's current SVP and CFO, departing
the Company in September 2022. Teitur
brings over 20 years of financial experience. He joins from Lundin
Energy, following its acquisition by Aker BP for approximately
$14 billion in enterprise value on announcement, where he had
been CFO since 2017 and prior to that VP Corporate Planning &
Investor Relations. Teitur was CFO of Aker BP (formerly Det norske)
from 2010 to 2012, and earlier in his career held progressively
senior financial positions.
Mr. David Dicaire will join
Lundin Mining on August 1, 2022 as
SVP, Josemaria Project and will have overall responsibility for all
matters related to the project, from the design and early works
currently underway, through construction and eventually, operation.
Dave has over 40 years of mining, engineering and construction
experience gained on a variety of global projects leading both the
Owners and EPCM teams. His experience covers all facets of project
management for all types of mining projects ranging from managing
pre-feasibility studies to large EPC/EPCM projects. Dave's previous
roles include Vice President, Projects at Lundin Gold where he
oversaw construction of the Fruta Del Norte project in Ecuador and prior to that Project Director at
Freeport-McMoRan for the highly successful multi-billion-dollar
Cerro Verde Expansion Project in Peru. Before to moving to Freeport McMoRan, he
was the General Manager, Project Development for South America for Xstrata Copper based in
Santiago, Chile.
Ms. Kristen Mariuzza, previously
Lundin Mining's VP, Environment and Social Performance, has been
appointed SVP Sustainability, Health and Safety, elevating
both Kristen's role and sustainability to the Executive Leadership
level. Kristen has more than 15 years of experience in the mining
industry with over 20 years in environmental regulation, permitting
and projects. She successfully led Lundin Mining's Eagle mine as
Managing Director for several years prior to being appointed VP,
Environment and Social Performance of the Company in 2020. Kristen
joined Lundin Mining in 2013 with the acquisition of the Eagle
Mine from Rio Tinto, and has held senior positions in operations,
environment and permitting, and health and safety.
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 in this release is subject to the disclosure
requirements of Lundin Mining under the EU Market Abuse Regulation.
The information was submitted for publication, through the agency
of the contact persons set out below on July
27, 2022 at 17:00 Eastern
Time.
Cautionary Statement on Forward-Looking
Information
Certain of the statements made and
information contained herein is "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, 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 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 statements.
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 labor;
assumed and future price of copper, nickel, zinc, gold 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 statements and undue reliance
should not be placed on such statements and information. Such
factors include, but are not limited to: 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; global financial conditions and
inflation; changes in the Company's share price, and volatility in
the equity markets in general; volatility and fluctuations in metal
and commodity demand and prices; changing taxation regimes; delays
or the inability to obtain, retain or comply with permits; reliance
on a single asset; unavailable or inaccessible infrastructure,
infrastructure failures, and risks related to ageing
infrastructure; risks related to negative publicity with respect to
the Company or the mining industry in general; health and safety
risks; pricing and availability of key supplies and services; the
threat associated with outbreaks of viruses and infectious
diseases, including the COVID-19 virus; exchange rate fluctuations;
risks relating to attracting and retaining of highly skilled
employees; risks inherent in and/or associated with operating in
foreign countries and emerging markets; climate change; regulatory
investigations, enforcement, sanctions and/or related or other
litigation; existence of significant shareholders; uncertain
political and economic environments, including in Argentina, Brazil and Chile; risks associated with acquisitions 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; indebtedness; liquidity risks and limited financial
resources; funding requirements and availability of financing;
exploration, development or mining results not being consistent
with the Company's expectations; risks related to the environmental
regulation and environmental impact of the Company's operations and
products and management thereof; activist shareholders and proxy
solicitation matters; reliance on key personnel and reporting and
oversight systems, as well as third parties and consultants in
foreign jurisdictions; historical environmental liabilities and
ongoing reclamation obligations; information technology and
cybersecurity risks; risks related to mine closure activities,
reclamation obligations, and closed and historical sites; social
and political unrest, including civil disruption in Chile; the inability to effectively compete in
the industry; financial projections, including estimates of future
expenditures and cash costs, and estimates of future production may
be unreliable; 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; 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; enforcing legal rights in
foreign jurisdictions; community and stakeholder opposition;
changes in laws, regulations or policies including but not limited
to those related to mining regimes, permitting and approvals,
environmental and tailings management, labor, trade relations, and
transportation; risks associated with the structural stability of
waste rock dumps or tailings storage facilities; dilution; risks
relating to dividends; conflicts of interest; counterparty and
credit risks and customer concentration; the estimation of asset
carrying values; challenges or defects in title; internal controls;
relationships with employees and contractors, and the potential for
and effects of labor disputes or other unanticipated difficulties
with or shortages of labor or interruptions in production;
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; compliance with
environmental, health and safety regulations and laws; and other
risks and uncertainties, including but not limited to those
described in the "Risk and Uncertainties" section of the Company's
AIF and the "Managing Risks" section of the Company's MD&A for
the year ended December 31, 2021,
which are available on SEDAR at www.sedar.com under the Company's
profile. All of the forward-looking statements made 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, forecast 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.