Lundin Mining and EuroZinc entered into an agreement to merge through a Plan of Arrangement and that has now been completed. The merged company, Lundin Mining Corp, is listed on the Toronto Stock Exchange (TSX symbol LUN), the Stockholm Stock Exchange (SSE symbol LUMI) and the American Stock Exchange (AMEX symbol LMC) as of November 1, 2006.

The new company, with a total of 1 500 employees, operates four profitable mines in Sweden, Portugal and Ireland and in 2007, a fifth mine is planned to start production in Portugal. The Portuguese mines will be International Mining’s January issue Operations Focus. Production for 2006, on a combined basis, is estimated to be some 180,000 t of contained zinc, 90,000 t of contained copper, 45,000 t of contained lead and 6 Moz of contained silver.

Going forward, in the near term, Lundin Mining expects to increase its zinc, lead and silver production with the start up of the Aljustrel mine (Portugal) in mid 2007 and with the potential to increase zinc production at the Neves-Corvo mine, also in Portugal, which is currently being studied. In addition, the Ozernoe project in Russia will provide a substantial increase in zinc and lead production.

The new Lundin Mining’s balance sheet is strong and as of June 30, 2006, had total cash and short term investments of $229 million, and long term debt of $43 million. Pro-forma sales for the first half of 2006 amounted to $462 million with an operating cash flow of $203 million.

Lukas Lundin continues as Chairman of LMC and Colin Benner is Vice Chairman and CEO. Both remain based in Vancouver while Karl-Axel Waplan, who is President and COO remains based in Stockholm. Anders Haker is Vice President and CFO, while Neil O’Brien is Vice President of Exploration and Manfred Lindvall is Vice President of Environmental, Safety and Health. Joao Carrelo continues as Executive Vice President and COO of the operations on the Iberian Pyrite Belt and remains in Portugal. Kjell Larsson is Vice President Projects and the Operations in Ireland and in Sweden. Neil O’Brien, Manfred Lindvall and Kjell Larsson remain in Sweden.