Lundin Mining Corporation produced 76,877 tonnes of copper and 33,427 ounces of gold in the second quarter of 2026, underpinning a period of near-record financial results. The company reported revenue of $1.2 billion and adjusted EBITDA of $658 million for the three-month period.

“We delivered another quarter of strong operational and financial performance, producing approximately 77,000 tonnes of copper and 33,000 ounces of gold while generating near-record revenue of $1.2 billion and adjusted EBITDA of $658 million.”

— Jack Lundin, President and CEO

The financial performance supported a net cash position of $79.0 million as of June 30, even after the company completed the $215 million acquisition of an additional 5% interest in the Caserones mine—bringing its total ownership to 75%—alongside a 30.9% interest in the Los Helados project. Lundin Mining also continued its capital return program during the quarter, repurchasing approximately 2.2 million common shares for roughly $56.2 million and declaring a dividend of C$0.0275 per share.

Operationally, the company maintained its annual consolidated copper production guidance of 310,000 to 335,000 tonnes. This target remains in place despite a severe winter storm in the Atacama region of Chile that forced a 13-day suspension of operations at Caserones. While the event temporarily disrupted power and site access, management confirmed that restart activities are underway.

Growth remains a core priority, with several specific project milestones targeted for the remainder of the year. In Brazil, Lundin Mining has officially approved the construction of an additional ball mill at the Chapada operation to facilitate higher recoveries as part of the Saúva project. Earthworks for the mill began in July 2026, with construction set to ramp up toward a year-end 2026 commencement and commissioning expected in late 2027. Supporting this, an updated technical report covering the Chapada and Saúva project is due in the fourth quarter of 2026.

In the Vicuña district, the company continues to advance its Stage 1 sanctioning objectives. The Vicuña Project recently secured the Incentive Regime for Large Investments (RIGI) under the PEELP designation in Argentina, marking the first copper project in the country to receive this status. This regime offers long-term fiscal stability, including export duty exemptions and accelerated revenue repatriation timelines. Subsequent to the quarter, the project also secured a long-term infrastructure trust agreement with the Government of San Juan Province. As part of this, the company expects to provide an attributable infrastructure trust contribution of $125 million in the fourth quarter of 2026. The company is actively working with its joint venture partner, BHP, to reach a formal Stage 1 investment decision for the Vicuña Project as early as year-end 2026.

Shares of the company closed at $38.77 on August 5, 2026, rising 2.84% in the session.

Read the full announcement: Lundin Mining Reports Second Quarter 2026 Results; Strong Operational Performance Generated Near-Record Revenue and Free Cash Flow