Lundin Mining Corporation

Lundin Mining Corporation

January 18, 2007 15:20 ET

Lundin Mining Updates on Status of Negotiations With Labour at Galmoy Mine

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - Lundin Mining Corporation ("Lundin Mining" or the "Company") (TSX:LUN)(AMEX:LMC)(SSE:LUMI) provides an update on the status of labour contract negotiations at its Galmoy zinc/lead mine in Ireland with the unions representing the employees at Galmoy Mines Ltd., the SIPTU and the TEEU.

Following a meeting on January 16th with the Labour Relations Commission, the parties agreed to adjourn the discussions at that time and resume again on January 30th. The Labour Relations Commission has requested all parties to consult with their principals and adhere to procedures.

The Company is hopeful the matter will be resolved as soon as possible.

The Galmoy Mine is a high grade zinc/lead mine located in Kilkenny County, Ireland. Discovered in 1986, the mine was first put into production in 1997. It is a modern underground mine with an annual production of approximately 70,000 tonnes per annum zinc and 19,000 tonnes per annum lead.

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act or "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 of the United States. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the companies' expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described under Risk Factors Relating to the Company's Business in the Company's Annual Information Form and in each management discussion and analysis. Forward-looking information is in addition based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of copper and zinc; that the companies can access financing, appropriate equipment and sufficient labour and that the political environment where the Companies operate will continue to support the development and operation of mining projects. 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 statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

Contact Information

  • Lundin Mining Corporation
    Catarina Ihre
    Investor Relations
    Lundin Mining Corporation
    Sophia Shane
    Investor Relations
    (604) 689-7842
    (604) 689-4250 (FAX)
    Lundin Mining Corporation
    Ron Ewing
    (604) 681-1337