Lundin Mining Corp. announced the appointment of Mr. Paul K. Conibear as Senior Vice President Corporate Development of the company. Mr. Conibear has been with the company since 2007 serving as Senior Vice President Projects. He has over 25 years of experience in heavy industrial and mining investments in North America, Africa, and South America. Born in Sudbury, Ontario and a civil engineer by training, he has 18 years experience in project and construction management of a diverse range of minerals projects including base and precious metal, coal and potash projects gained while working with Fluor Daniel Wright and subsequently the Simons Mining Group.

Lundin Mining Corp. reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $3.7 million or $0.01 per basic and diluted share on sales of $171.1 million compared to net loss of $199.0 million or $0.51 per basic and diluted share on sales of $191.9 million for the same period a year ago. The company reported operating earnings of $91.8 million, loss from continuing operations before income taxes of $5.1 million and income from continuing operations of $3.7 million or $0.01 per basic and diluted share compared to operating earnings of $68.9 million, loss from continuing operations before income taxes of $208.2 million and loss from continuing operations of $190.2 million or $0.49 per basic and diluted share for the same period a year ago. The company reported cash flow from operations of $40.0 million and capital expenditures of $30.4 million compared to cash flow from operations of $46.8 million and capital expenditures of $54.1 million for the same period a year ago. The result was a little below expectations owing to lower than expected sales volume and production. Operating earnings increased by $22.9 million from the third quarter of 2008. Lower sales volumes ($36 million operating earnings effect) and lower metal prices ($22 million operating earnings effect) were more than offset by the difference in price-adjustments between the quarters. For the nine months, the company reported net income of $38.6 million or $0.07 per basic and diluted share on sales of $489.3 million compared to net loss of $228.6 million or $0.59 per basic and diluted share on sales of $791.8 million for the same period a year ago. The company reported operating earnings of $221.0 million, income from continuing operations before income taxes of $19.8 million and income from continuing operations of $33.0 million or $0.06 per basic and diluted share compared to operating earnings of $389.1 million, loss from continuing operations before income taxes of $26.9 million and loss from continuing operations of $12.3 million or $0.03 per basic and diluted share for the same period a year ago. The company reported cash flow from operations of $40.4 million and capital expenditures of $92.4 million compared to cash flow from operations of $168.6 million and capital expenditures of $214.8 million for the same period a year ago. The company reported net debt of $132.2 million compared to net debt of $194.8 million for the same period a year ago. The company provided capital expenditure guidance for the year 2009. The company expects capital expenditures for the year 2009 to be around $170 million which includes: $65 million of sustaining capital; $45 million of new investment in existing operations (Zinkgruvan copper project; Neves-Corvo new copper circuit, paste project, zinc expansion and the pre-feasibility study for the Lombador zinc deposits) and $60 million for Tenke (covering pro rata working capital, exploration drilling, expansion studies, sustaining capital and other related costs). The increase of $10 million from last quarter's guidance largely reflects the stronger Euro affecting the cost when viewed in $.

Lundin Mining Corp., Q3 2009 Earnings Call, Oct 29 2009