Castro Verde: Lundin Mining invests 250ME to double zinc production at Neves-Corvo mine.
The Swedish-Canadian mining company Lundin Mining announced today an investment of 250 million euros to double zinc production at Neves-Corvo mine, Alentejo in the municipality of Castro Verde.
According to Lusa, the investment was announced by Paul Conibear, o presidente da Lundin Mining, the owner of the mine concession, the company Somincor, at a ceremony held today at the mining complex and included the presence of the Secretaries of State for Energy and the Environment.
Speaking to journalists, Paul Conibear said that this is a project “very important” para a Lundin Mining, because the operation of Somincor “We had a decline in copper production” and the expansion of zinc production is “very important” to keep the Neves-Corvo mine “healthy and profitable” and extend its useful life “in more 10 year old”.
Second Paul Conibear, the investment will allow “double” the annual output of zinc concentrate at the Neves-Corvo mine one million tonnes, currently, to near 2,5 millions of tons.
This is a project “large and complicated”, it will take two years to be realized, It should be completed in “mid 2019” and will allow to create 350 jobs during the construction phase and over 200 effective jobs when in operation, needed.
Paul Conibear said, in the last years, copper production at Neves-Corvo “got down” and due to variation of the prices of metals Somicnor “It has not had earnings in copper production” and “You need reinvestment to modernize operations to bring new technologies and expand zinc production” in Alentejo mine.
The President of Lundin Mining said that for several years the company has been studying how to double zinc production at Neves-Corvo mine and presented again to the Portuguese Government investment project at the end of last year.
Speaking to journalists, Secretary of State for Energy, Jorge Sanches Insurance, said the new investment of Lundin Mining “means that mine [Neves-Corvo] will continue longer in operation” and “above all” it is a “positive sign” for the Portuguese economy.
This is a company that “wants to increase its production capacity” and “what it is for the Portuguese Government is to create all conditions for this investment materializes in the country” and can create jobs and contribute to “more exports”, said the governor.
“Nothing is closed, nothing is achieved”, but today's meeting between Lundin Mining and the Portuguese government, elapsed before the presentation of the investment, “It was a good working meeting, what, possibly, will succeed, due to the commitment of all”, said Jorge Sanches Insurance.
“Of the Portuguese Government, what we are creating is the best conditions for this investment a reality” and can create “more wealth and more jobs” for Portugal, said the governor.
According to Secretary of State, the Government is working to ensure that all deadlines for the execution of the project “are as short as possible, under the law”, for this investment possibility is “as soon as possible to the service of the national economy” and for Portugal the can “make the most of”.
