Canada’s Lundin Mining (TSX: LUN) beat its 2025 copper guidance and projection greater result in 2026 as solid efficiency at its Chilean procedures, led by Caserones, remained to drive outcomes.
The miner claimed fourth-quarter manufacturing surpassed 87,000 tonnes of copper and greater than 34,000 ounces of gold, covering a year in which combined copper result went beyond initial advice and landed within the business’s modified full-year variety.
Caserones was a standout, creating greater than 15,000 tonnes of copper in December, its ideal regular monthly outcome because Lundin took ownership in 2023, and completing the year at 132,881 tonnes, over preliminary assumptions.
Head Of State and chief executive officer Jack Lundin claimed the business’s close to- and medium-term expectation stays undamaged, with mine sequencing modifications anticipated to raise copper manufacturing by a web 15,000 tonnes throughout 2026 and 2027. Those modifications are anticipated to include regarding 20,000 tonnes in 2027, partially balanced out by a 5,000-tonne axis modification in 2026.
Candelaria, additionally in Chile, generated 145,471 tonnes of copper in 2025, sustained by greater mill throughput connected to softer ore. Throughout its 3 Latin American procedures, the business claimed operating efficiency continued to be solid throughout the year.
Top-ten aspirations
For 2026, Lundin anticipates combined copper manufacturing of 310,000 to 335,000 tonnes and gold result of 134,000 to 149,000 ounces, with money prices in between $1.90 and $2.10 per extra pound. Copper manufacturing is anticipated to increase to 315,000 to 340,000 tonnes in 2027 prior to alleviating to 290,000 to 315,000 tonnes in 2028.
Capital expense will certainly continue to be raised as Lundin presses development jobs onward. Maintaining capital investment are predicted at $550 million in 2026, while expansionary capital investment is anticipated to get to $445 million. Expedition costs is anticipated at $53 million, concentrated primarily on in-mine and near-mine targets.
Lundin intends to turn into one of the globe’s leading 10 copper manufacturers, targeting yearly manufacturing of regarding 500,000 tonnes of copper and approximately 550,000 ounces of gold within 2 to 4 years.
The strategy centres on brownfield growths at Candelaria and Caserones in Chile and Chapada in Brazil, along with brand-new growths in the Vicuñan area on the Chile– Argentina boundary, consisting of the Josemaría and Filo del Sol jobs.
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