CASTRO VERDE, Portugal, July 13 (Reuters) – Canadian-Swedish
group Lundin Mining is expected to invest up to 750
million euros ($914 million) to further expand its Neves Corvo
zinc and copper project in Portugal in the next five years, the
country’s economy minister said on Friday.
“There is an investment potential over the next five years
that ranges from 300 million euros to 750 million euros,” Alvaro
Santos Pereira told reporters during a visit to the mine and
accompanied by Lundin officials.
Portugal is Europe’s fourth-largest copper producer and a
major producer of tin, tungsten and uranium. The debt-laden
nation has been actively offering mining concessions of late to
bring additional revenues to depleted state coffers, taking
advantage of rising investment amid high global metals prices.
Strong copper demand from China has pumped up production at
Neves Corvo, where Lundin estimates production of up to 57,000
tonnes of copper and 40,000 tonnes of zinc this year.
