Lundin Mining Reveals 2025 Output Figures and 2026 Forecast
Lundin Mining Corporation has released its production results for the fiscal year ending December 31, 2025, along with its output forecasts for the years 2026 through 2028. The company, located in Vancouver, Canada, achieved production guidance for copper, gold, and nickel, marking its third consecutive successful year in meeting guidance targets. The company has a focus on operational consistency and financial stability.
2025 Production Results
- Copper Production: 331,232 tonnes.
- Gold Production: 141,859 ounces.
- Nickel Production: 9,907 tonnes, primarily from the Eagle Mine.
During the fourth quarter of 2025, Lundin Mining produced over 87,000 tonnes of copper and more than 34,000 ounces of gold. Notably, the Caserones operation produced 39,612 tonnes of copper in Q4, its highest quarterly output since Lundin Mining acquired it. The overall performance in 2025 showed robust growth driven by higher copper head grades and increased cathode production.
2026 Production Forecast
For 2026, Lundin Mining anticipates the following production targets:
- Copper: Estimated between 310,000 to 335,000 tonnes.
- Gold: Forecasted to be around 134,000 to 149,000 ounces.
The cash cost for copper is projected to be between $1.90 and $2.10 per pound. This guidance reflects the company’s continuous focus on efficiency and cost management despite fluctuating commodity prices.
Three-Year Production Guidance (2026 – 2028)
Mining operations are expected to maintain stable production levels with adjustments based on mine sequencing:
| Year | Copper Production (tonnes) | Gold Production (ounces) |
|---|---|---|
| 2026 | 310,000 – 335,000 | 134,000 – 149,000 |
| 2027 | 315,000 – 340,000 | 143,000 – 158,000 |
| 2028 | 290,000 – 315,000 | 132,000 – 147,000 |
The production outlook considers strong anticipated operations at key sites including Candelaria, Caserones, and Chapada. Notably, planned mine sequence optimizations will allow for an increase in copper production by approximately 20,000 tonnes in 2027.
Capital and Exploration Expenditures
Lundin Mining forecasts significant capital investments for 2026:
- Sustaining Capital Expenditures: Estimated at $550 million.
- Expansionary Capital Expenditures: Expected to be around $445 million, primarily for the Vicuña project.
- Exploration Expenditures: Planned at $53 million, focusing on resource expansion.
The Vicuña project is poised for accelerated development, including resource drilling and infrastructure enhancements.
In summary, Lundin Mining demonstrates a solid production performance for 2025 and a clear path for operational growth through 2026 and beyond. With focus on mining efficiency and cost management, the company aims to establish itself as a leading player in the global copper market.
