Toronto based Lundin Mining feasibility studies showed that the base metal miner's Lombador Phase 1 project in Portugal can be developed as a profitable expansion to its existing Neves Corvo mine.

Lundin said that the project will add about USD 100 million to the mine's net present value and extends its life to at least 2026. The company said that underground ore production at the project on which it expects to spend EUR 164 million initially will start in late 2014.

(Sourced from Reuters)