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Portugal
Neves-Corvo Mine

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 Location:
15 km SE from Castro Verde, Portugal
  Address:
Santa Bárbara de Padrões Apartado 12
Castro Verde
Portugal
7780-409
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News
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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Copper
  • Zinc
  • Lead
  • Silver
Mining Method
  • Bench & Fill
  • Drift & Fill
  • Paste backfill
Production Start...
Mine Life2032
Neves-Corvo is a mainly copper and zinc mine producing copper, zinc and lead concentrates. The processing facility at Neves-Corvo comprises two plants. The copper plant processes copper ores and has a capacity of approximately 2.8 million tonnes per annum (Mtpa). The zinc plant, which can process zinc or copper ores, has recently undergone a significant expansion to a design nameplate capacity of 2.5 Mtpa.

Owners

Source: p. 11
CompanyInterestOwnership
Lundin Mining Corp. 100 % Indirect
Somincor-Sociedade Mineira de Neves-Corvo, S.A. (operator) 100 % Direct
The Neves-Corvo Mine is owned and operated by the Portuguese company Somincor-Sociedade Mineira de Neves-Corvo, S.A., which is a 100% owned subsidiary of Lundin Mining.

Contractors

Subscription required - Subscription is required.

Deposit Type

  • VMS
  • Breccia pipe / Stockwork

Summary:

Deposit Type
The deposits of the Neves-Corvo Mine are classified as volcanogenic massive sulphides (VMS). They are also known as volcanic-associated, volcanic-hosted, and volcano-sedimentary-hosted massive sulphide deposits. The deposits typically occur as lenses of polymetallic massive sulphides that formed at or near the seafloor in submarine volcanic environments, and are classified according to base metal content, gold content or host-rock lithology.

Mineralised Zones
Seven massive sulphide deposits are present and include: Neves, Corvo, Graça, Zambujal, Lombador, Monte Branco and Semblana.

The deposits lie on both flanks of the Rosario-Neves-Corvo anticline. Neves, Corvo, Graça, Zambujal and Lombador sulphide lenses are conformable with the stratigraphy and are connected by stockwork ‘bridge zones’ mostly over the crest of the fold. This has resulted in an almost continuous complex volume of mineralised rock showing a large range in both styles of mineralisation and geological structure. Drilling has demonstrated that no significant continuous mineralised ‘bridge’ exists from Zambujal to Semblana or Monte Branco. The mineralised zones are located at depths of 230m to 1,400m below surface.

The deposits occur as concentrations of high-grade copper and/or zinc mineralisation in massive sulphide pyritic lenses, and copper mineralisation within stockwork zones that typically underlie the massive sulphides. Base metal grade distribu ........

Mining Methods

  • Bench & Fill
  • Drift & Fill
  • Paste backfill

Summary:

Underground mining at Neves-Corvo has been continuously conducted since 1988. The current production plan for 2023 is budgeted at 2.7Mt of copper ore at a grade of 1.8% Cu and 2.0Mt of zinc ore at a grade of 6.9% Zn. Zinc production is projected to increase to 2.5Mtpa from 2024. The current life of mine plan runs to 2032. The final year of full production is 2028. In the life of mine plan, total hoisted rock (ore plus waste) ranges from 5.4Mtpa to 5.9Mtpa.

General Information
The Neves-Corvo mine currently produces ore from five sectors: Corvo, Lombador South & North, Graca, Neves South & North and Zambujal. Lombador is the largest sector that contains more than 65% of the current Mineral Reserves, followed by Neves, Corvo, Zambujal and Graca. The smallest Graca sector will be mined out in 2028.

The main loading and hauling equipment used in the mine are diesel powered LHDs and Trucks for both production and development. Conventional electro-hydraulic drill rigs are used for drifting and stope production drilling.

The mining department has at present a total of 700 staff in production, development services, maintenance, engineering, planning, rock mechanics, geology, and exploration. On day shift there are up to 300 persons underground.

Access and Ore Handling
The mine is accessed by two primary routes:
• Santa Barbara Shaft: a 5m diameter circular concrete-lined shaft situated to the west of the main Corvo orebody. ........

Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.

Production:

CommodityUnits2023202220212020201920182017
Copper t  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required45,69233,624
Zinc t  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Lead t  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Silver koz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in concentrate. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required2,702 kt of copper2,693 kt of copper2,110 kt of copper
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required2,679 kt of copper ore2,692 kt of copper ore2,122 kt of copper ore
Plant annual capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required2.6 Mt of copper ore2.5 Mt of copper ore2.5 Mt of copper ore
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required1,153 kt of zinc1,119 kt of zinc996 kt of zinc
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required2,702 kt of copper2,693 kt of copper2,110 kt of copper
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required1,137 kt of zinc ore1,125 kt of zinc ore1,000 kt of zinc ore
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required2,679 kt of copper ore2,692 kt of copper ore2,122 kt of copper ore
Plant annual capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required1.1 Mt of zinc ore1.2 Mt of zinc ore1.2 Mt of zinc ore
Plant annual capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required2.6 Mt of copper ore2.5 Mt of copper ore2.5 Mt of copper ore
Subscription required - Subscription is required.

Reserves at December 31, 2022:
The copper Mineral Resource estimates are reported within geological volumes based on a nominal cut-off grade of 1.0% copper and the zinc Mineral Resource estimates are reported within geological volumes based on a nominal zinc cut-off grade of 4.5% zinc.

The copper and zinc Mineral Reserve estimates have been calculated using variable NSR values ranging from EUR 44/t to EUR 60/t based on areas and mining methods.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven & Probable Copper 21,207 kt Copper 2.1 % 438 kt
Proven & Probable Zinc 22,299 kt Copper 0.3 % 73 kt
Proven & Probable Copper 21,207 kt Zinc 0.6 % 135 kt
Proven & Probable Zinc 22,299 kt Zinc 7.5 % 1,667 kt
Proven & Probable Copper 21,207 kt Lead 0.2 % 47 kt
Proven & Probable Zinc 22,299 kt Lead 1.7 % 383 kt
Proven & Probable Copper 21,207 kt Silver 33 g/t 22,644 koz
Proven & Probable Zinc 22,299 kt Silver 63 g/t 45,121 koz
Measured & Indicated Copper 56,033 kt Copper 2.2 % 1,259 kt
Measured & Indicated Zinc 65,101 kt Copper 0.3 % 219 kt
Measured & Indicated Copper 56,033 kt Zinc 0.8 % 452 kt
Measured & Indicated Zinc 65,101 kt Zinc 6.8 % 4,437 kt
Measured & Indicated Copper 56,033 kt Lead 0.3 % 189 kt
Measured & Indicated Zinc 65,101 kt Lead 1.4 % 917 kt
Measured & Indicated Copper 56,033 kt Silver 44 g/t 78,824 koz
Measured & Indicated Zinc 65,101 kt Silver 61 g/t 127,306 koz
Inferred 7,807 kt Copper 2.9 % 223 kt
Inferred Copper 14,185 kt Copper 1.8 % 255 kt
Inferred Zinc 3,897 kt Copper 0.3 % 13 kt
Inferred Copper 14,185 kt Zinc 0.6 % 90 kt
Inferred Zinc 3,897 kt Zinc 5.7 % 223 kt
Inferred Copper 14,185 kt Lead 0.2 % 34 kt
Inferred Zinc 3,897 kt Lead 1.6 % 62 kt
Inferred 7,807 kt Silver 25 g/t 6,299 koz
Inferred Copper 14,185 kt Silver 29 g/t 13,259 koz
Inferred Zinc 3,897 kt Silver 64 g/t 8,028 koz

Commodity Production Costs:

CommodityUnits2023202220212020201920182017
Credits (by-product) Copper USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required -1.59 / lb   -2.34 / lb  
Cash costs Copper USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 2.87 / lb   3.22 / lb  
Cash costs Copper USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 1.28 / lb†   0.88 / lb†  
All-in sustaining costs (AISC) Copper USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 1.95 / lb†   1.49 / lb†  
^ Guidance / Forecast.
† Net of By-Product.
Subscription required - Subscription is required.

Financials:

Units2023202220212020201920182017
Capital expenditures (planned) M USD  ......  Subscription required
Sustaining costs M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 54.5   35.1  
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 163.8   59.8  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 404.3   328.9  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 85.3  
Operating Income M USD 135.8  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 67.5   58.2  
Subscription required - Subscription is required

Pipelines and Water Supply
Source: Subscription required

- subscription is required.

Heavy Mobile Equipment as of December 31, 2022:
HME TypeModelQuantityStatus
Drill (long hole) ....................... Subscription required ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
....................... Subscription required ....................... Subscription required Proposed
Jumbo ....................... Subscription required Existing
Loader (FEL) ....................... Subscription required Existing
Load-Haul-Dump (LHD) ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required Proposed
....................... Subscription required ....................... Subscription required Proposed
Truck (dump) ....................... Subscription required Existing
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 1, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 1, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 1, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 1, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 1, 2023
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required Subscription required Subscription required 2018
Subscription required Subscription required Subscription required 2017
Subscription required Subscription required Subscription required 2016
Subscription required Subscription required Subscription required 2015

Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2022
Management Discussion & Analysis 2022
Technical Report 2022
Year-end Mineral Reserves 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Corporate Presentation 2018
Management Discussion & Analysis 2018
Press Release 2018
Year-end Mineral Reserves 2018
Annual Report 2017
Corporate Presentation 2017
Press Release 2017
Technical Report 2017
Annual Information Form 2016
Corporate Presentation 2016
Management Discussion & Analysis 2016
Press Release 2016
Year-end Mineral Reserves 2016
Annual Information Form 2015
Annual Report 2015
Management Discussion & Analysis 2015
Sustainability Report 2015
Technical Report 2013
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