As the government finalizes its “critical raw materials” strategy, Somincor, the owner of the Neves Corvo mine in the Alentejo, has confirmed it is considering a sale. Somincor, a subsidiary of the Lundin Mining Group, announced the existence of “exploratory contacts” regarding the sale of its operations, which are the largest in Portugal.
The statement highlights the international significance of Somincor’s operations and its productive potential, emphasizing the company’s commitment to its workers, the region, and the country. Somincor has informed its employees in Neves-Corvo, where it primarily produces copper and zinc concentrates, that Lundin Mining is evaluating the possibility of selling its European assets.
“Somincor will continue to add value by prospecting for minerals relevant to the energy transition, which contribute to employment, quality of life, and local development,” the statement adds. This announcement follows a report by “ECO” that suggests Lundin Mining is planning to sell its Castro Verde operation, with the bidding phase for the mine ending today under the guidance of the Banque de Montréal.
Founded on July 24, 1980, Somincor holds the concession for Neves-Corvo, which also produces silver and lead alongside copper and zinc concentrates. Employing around 2,000 people, Somincor has been a subsidiary of the Swedish-Canadian Lundin Mining Group for nearly 20 years. Neves-Corvo is the largest zinc mine in Europe and the sixth largest copper mine on the continent, making it a major employer in the region.
Lundin Mining’s 2023 production report states that Neves-Corvo produced 108,812 tonnes of zinc and 33,823 tonnes of copper last year. Besides Neves-Corvo, Lundin Mining owns mines in Chile (Candelaria and Caserones), Brazil (Chapada), Argentina (Josemaria), the United States (Eagle), and Sweden (Zinkgruvan), with its headquarters located in Toronto.
