- Lundin Mining (TSX:LUN) released its production results for 2024 and production guidance through 2027, along with cash cost, capital, and exploration expenditure guidance for 2025
- The company achieved its guidance on all metals for the year and set record production levels for both copper (record production of 369,067 tonnes) and zinc (record production of 191,704 tonnes)
- Exploration expenditures are planned to be US$40 million in 2025 primarily for in-mine and near-mine targets at its operations
- Lundin Mining stock (TSX:LUN) last traded at C$12.44
Lundin Mining (TSX:LUN) released its production results for 2024 and production guidance through 2027, along with cash cost, capital, and exploration expenditure guidance for 2025.
2024 production highlights
The Vancouver-based miner achieved its guidance on all metals for the year and set record production levels for both copper and zinc.
- Copper: Record production of 369,067 tonnes (t).
- Zinc: Record production of 191,704 t.
- Gold: Production of 158,436 ounces (oz).
- Nickel: Production at Eagle of 7,486 t.
2025 outlook
The 2025 outlook has been revised to reflect the divestiture of the Neves-Corvo and Zinkgruvan mines. Key guidance includes:
- Copper production: 303,000 – 330,000 t at a consolidated C1 cash cost of US$2.05/lb to $2.30/lb.
- Gold production: 135,000 – 150,000 oz.
- Nickel production: 8,000 – 11,000 t.
- Sustaining capital expenditures: US$530 million.
- Expansionary capital expenditures: US$205 million.
- Exploration expenditures: US$40 million, primarily for in-mine and near-mine targets.
Exploration expenditures are planned to be US$40 million in 2025 primarily for in-mine and near-mine targets at its operations.
Leadership insights
“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,” Jack Lundin, the company’s president and CEO, commented in a news release.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States. The company primarily produces copper, zinc, gold and nickel, with a strong focus on sustainable mining practices.
Lundin Mining stock (TSX:LUN) last traded at C$12.44 and is 21.23 per cent higher than it was this time last year.
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(Top photo of the Neves-Corvo mine in Portugal: Lundin Mining)