Friday, May 30, 2025

Latest

Lundin Mining Produces Record Copper And Zinc In 2024

Lundin Mining (TSX: LUN) has released its full year 2024 production results, while also providing production guidance for the three year period of 2025 through to 2027.

The fourth quarter saw Lundin produce 101,491 tonnes of copper, 51,946 tonnes of zinc, 1,617 tonnes of nickel, 912 tonnes of molybdenum and 46,456 ounces of gold. For the full year, Lundin managed to hit its revised production guidance across all metals, with production breaking down as follows:

  • Copper: 369,067 tonnes versus guidance of 366,000 to 389,000 tonnes
  • Zinc: 191,704 tonnes versus guidance of 190,000 to 199,000 tonnes
  • Gold: 158,436 ounces versus guidance of 155,000 to 170,000 ounces
  • Nickel: 7,486 tonnes versus guidance of 7,000 to 9,000 tonnes
  • Molybdenum: 3,183 tonnes versus guidance of 2,800 to 3,300 tonnes

For the full year, production of both copper and zinc hit record levels, which is partially a result of Lundin increasing its ownership in Caserones from 51% to 70% during the fiscal year.

The company this morning also provided production guidance for the next three years, along with costing guidance for 2025. For 2025, guidance is as follows:

  • Copper: Production of 303,000 to 330,000 tonnes at a consolidated cash cost of $2.05 to $2.30 per pound in 2025
  • Gold: 135,000 to 150,000 ounces, with no costing provided
  • Nickel: 8,000 to 11,000 tonnes at a cash cost of $3.05 to 3.25 per pound
  • Capital expenditures of $735 million, consisting of sustaining capital of $530 million, and $205 million related to expansionary capital expenditures
  • Exploration expenditures of $40 million, primarily to be spent at in-mine and near-mine targets

Lundin notably has sold off its European assets, impacting expected outputs of copper, while removing the production of zinc and molybdenum from Lundin’s portfolio.

Commenting on 2024, Jack Lundin, CEO, stated, “2024 was a transformative year for the Company. We announced three strategic transactions while maintaining operational performance to meet production guidance on a consolidated basis for copper and gold and within revised guidance for zinc and nickel. The Company was able to achieve record production for copper and zinc during the year. This is a testament to the great effort and focus of the entire team at Lundin Mining.”

Lundin Mining last traded at $12.44 on the TSX.


Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Filo Corp Bought Out For $4.5 Billion By Lundin Mining, BHP

In a continuance of M&A transactions today, it has been revealed that Filo Corp (TSX:...

Monday, July 29, 2024, 08:52:41 PM

Lundin Mining Downgraded By Canaccord Due To Candelaria Mine Concerns

Lundin Mining Corporation (TSX: LUN) reported its second quarter financials on July 28. The company...

Friday, August 6, 2021, 11:54:00 AM

Lundin Mining Sells Zinc Operations For $1.52 Billion In Cash

Lundin Mining (TSX: LUN) is divesting assets as it works to focus its efforts on...

Monday, December 9, 2024, 08:53:53 AM

Lundin Mining Announces Production Guidance For The Next Three Years

Lundin Mining Corporation (TSX: LUN) provided on Monday the production guidance for 2022-2024. Total annual...

Tuesday, November 23, 2021, 11:39:00 AM

Lundin Mining Suffers Fatality At Neves-Corvo, Indefinite Processing Halt At Chapada Over Weekend

Lundin Mining Corp (TSX: LUN) arguably had a terrible weekend of news releases. The hits...

Monday, September 28, 2020, 08:01:00 AM