Lundin Mining has begun work to expand throughput capacity at the zinc concentrator at its Neves-Corvo operations in southern Portugal from 1.1 million metric tons per year (mt/y) to 2.5 million mt/y. Production of zinc in concentrates is planned to increase from about 70,000 mt/y to an average of about 150,000 mt/y for the 10-year period from 2020 to 2030. At the same time, production of lead in concentrates will increase from about 5,000 mt/y to an average of about 20,000 mt/y.
Pre-production capital costs for the expansion project are estimated at €257 million, including a 15% contingency. Payback is estimated at less than four years from the start of production.