Project Updates

Credit: Alf Manciagli/Shutterstock

Location: Alentejo district, Portugal​​​​​​​
Project type: Underground mine​​​​​​​
Reserves: 21.2Mt copper, 22.3Mt zinc​​​​​​​
Full production: 2028

Lundin Mining’s Neves-Corvo mine in southern Portugal produces copper, zinc and lead concentrates. An expansion project in development aims to increase zinc mining and processing capacity to 2.5 million tonnes per annum by 2024, with full production expected in 2029.

Credit: Karel Gallas/Shutterstock

Location: Papua New Guinea​​​​​​​
Project type: Underground mine​​​​​​​
Reserves: 400 million tonnes​​​​​​​
Estimated investment: $2.8bn

The Wafi-Golpu underground mine is being developed by a 50:50 joint venture of Newcrest (now owned by Newmont) and Harmony Gold. The probable reserve is estimated at 400 million tonnes, grading 0.86g/t gold and 1.2% copper as of June 2020.

Credit: Minbos Resources

Location: Cabinda province, Angola​​​​​​​
Project type: Open pit mine
Reserves: 4.72t​​​​​​​
Life of mine: 20 years

The Cabinda project is being developed by a joint venture of Minbos Resources (85%) and local partners (15%). It involves the construction of a fertiliser plant in Cabinda, north-west Angola, and mining of the Cacata phosphate deposit, with an estimated initial capital cost of $54.17m.