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Lundin Mining Corp
XMUN:GXD

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Lundin Mining Corp
XMUN:GXD
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Price: 26.11 EUR -0.27% Market Closed
Market Cap: €13B

Lundin Mining Corp
Investor Relations

Lundin Mining is a base-metals miner that explores for, develops, and operates mines that produce copper, zinc, nickel, and related byproducts. It does not make finished products itself; instead, it digs ore from the ground, processes it into concentrates or cathode, and sends those metal products into the industrial supply chain. Its main customers are smelters, refiners, and large metal traders that buy mined material and turn it into usable metal for manufacturers. Those end users serve industries such as wiring, construction, automotive, energy, and batteries. Lundin Mining makes money by selling the metals it produces, so its business depends on the volume and quality of ore it can extract and the market price for each metal. What makes the company easy to understand is its role near the start of the metals chain. It is a producer of raw materials, not a fabricator of end goods. That means its value comes from finding and running mines efficiently, keeping output moving, and supplying metals that the wider economy needs to build and power modern infrastructure.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 7, 2026
AI Summary
Q1 2026

Production: Lundin Mining said Q1 was a solid start to 2026, with copper production of approximately 79,900 tonnes and gold production of 31,500 ounces, both in line with guidance.

Cash Flow: The company generated over $1.1 billion in revenue, $627 million in adjusted EBITDA, and $380 million in free cash flow from operations, showing strong cash generation from its asset base.

Vicuña: Lundin Mining highlighted major progress at Vicuña, including the integrated technical study, early site works, added hiring, and a fully upsized $4.5 billion credit facility to support Stage 1.

Portfolio Shift: The sale of Eagle and the increased stake in Caserones plus ownership in Los Helados move the company closer to being a pure-play copper business with a stronger Chile-Argentina growth pipeline.

Costs: Management said diesel and other input costs are under watch, but even with current diesel prices they still expect to stay within full-year C1 cash cost guidance.

Shareholder Returns: Lundin Mining bought back $40 million of stock, declared its Q1 dividend, and reiterated that it has returned more than $1.6 billion to shareholders since 2017.

Key Financials
Copper production
79,900 tonnes
Gold production
31,500 ounces
C1 cash cost
$1.66 per pound
Revenue
over $1.1 billion
Adjusted EBITDA
$627 million
Free cash flow from operations
$380 million
Adjusted operating cash flow
$450 million
Adjusted earnings
$265 million
Adjusted earnings per share
$0.31
Sustaining capital expenditure
$126 million
Expansionary capital expenditure
$54 million
Cash position
$565 million
Net cash position
roughly $250 million
Share repurchases
$40 million
Shares repurchased
1.4 million shares
Revolving credit facility
$4.5 billion
Available credit
$2.25 billion
Vicuña resource
46 million tonnes of copper, 97 million ounces of gold and 1.8 billion ounces of silver
Copper mineral resources
over 39 million tonnes
TRIF
0.03
Realized copper price
$5.70 per pound
Realized gold price
$5,120 per ounce
Copper sold
77,700 tonnes
Gold sold
29,900 ounces
Provisional copper pricing
67,100 tonnes at $5.54 per pound
Provisional gold pricing
27,900 ounces at $4,540 per ounce
Concentrate inventory
around 29,000 tonnes
Diesel assumption
around $0.60 per liter
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jack O. A. Lundin
President, CEO & Director
No Bio Available
Mr. Teitur Poulsen
Executive VP & CFO
No Bio Available
Mr. Juan Andres Morel
Executive VP & COO
No Bio Available
Mr. Peter Brady
Executive VP & General Counsel
No Bio Available
Mr. David Dicaire
Executive Vice President of Josemaria Project
No Bio Available
Mr. Steve Little
Vice President of Technology & Innovation
No Bio Available
Mr. Stephen Charles-Hadfield Williams M.B.A., P.Eng.
Vice President of Investor Relations
No Bio Available
Mr. Quinn Yong
Vice President of Corporate Development & Strategy
No Bio Available
Ms. Jacinta Zaleski
Vice President of Human Resources
No Bio Available
Mr. Tim Walmsley
Vice President of Exploration
No Bio Available

Contacts

Address
ONTARIO
TORONTO
2200-150 King St W, P.O. Box 38
Contacts
+14163425560.0
www.lundinmining.com
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