Lundin Mining Posts Record Revenue and Free Cash Flow on Strong Copper Production — Lundin Mining Corporation

Event summary

Lundin Mining reported Q2 2026 revenue of $1.2 billion and adjusted EBITDA of $658 million, driven by strong copper production of 77,000 tonnes and gold production of 33,000 ounces.
The company completed the acquisition of an additional 5% interest in Caserones mine and a 30.9% interest in Los Helados Project for $215 million.
Vicuña Corp. received approval for RIGI PEELP status in Argentina, supporting progress toward a Stage 1 investment decision by year-end.
Lundin Mining approved the construction of an additional ball mill at Chapada to achieve higher recoveries as part of the Saúva growth project.

The big picture

Lundin Mining's strong operational performance in Q2 2026 underscores its strategic focus on becoming a top ten global copper producer. The company's recent acquisitions and regulatory approvals position it for long-term growth, but execution risks and regulatory dynamics remain key factors to watch.

What we're watching

Execution Risk: The pace at which Lundin Mining can resume full operations at Caserones following the severe winter storm will be critical to meeting annual production guidance.
Regulatory Dynamics: The approval of RIGI PEELP status for Vicuña Corp. provides long-term fiscal stability, but the project's success hinges on securing further regulatory approvals and financing.
Growth Strategy: Lundin Mining's strategic vision to become a top ten global copper producer will depend on the successful execution of its growth initiatives, including the Saúva project and Vicuña Project.