Lundin Mining Reports Third Quarter 2026 Results, Delivering Strong Financial Performance Amidst Record Copper Prices
Key Highlights
- ➤Revenue $1.109B, supported by record realized copper price of $6.85/lb
- ➤Adjusted EBITDA $647.7M; adjusted earnings $276.5M, or $0.32 per share
- ➤Caserones copper guidance cut to 105,000–115,000 tonnes after weather disruptions
- ➤Net cash reached $237.0M at September 30, 2026
- ➤Vicuña secured $250M infrastructure trust commitment and powerline approval
Expert Statements
Jack Lundin, President and CEO of Lundin Mining
“In the third quarter of 2026, Lundin Mining generated its fourth consecutive quarter of revenue exceeding $1 billion. Supported by record realized copper prices, year to date, our adjusted EBITDA of $1.9 billion and free cash flow from operations of $1.2 billion have both already surpassed their full-year 2025 totals, positioning the Company for what we expect to be another record beating financial year.”
Jack Lundin, President and CEO of Lundin Mining
“Candelaria and Chapada delivered solid operational performance during the quarter, with Candelaria’s copper production increasing 13% from the second quarter and Chapada achieving its highest quarterly copper and gold production of 2026. At Caserones, severe winter weather and the ongoing impacts of the Super El Niño season have continued to constrain open-pit mining activities, requiring us to further revise our 2026 copper production guidance from 120–130 thousand tonnes to 105–115 thousand tonnes. Importantly, these are deferred tonnes rather than lost production, and we expect to see a recovery in operational performance through 2027.”
Jack Lundin, President and CEO of Lundin Mining
“We also continued to advance our organic growth strategy. At Chapada, earthworks and concrete pouring have commenced on the additional ball mill, with construction approximately 15% complete. We remain on schedule for commissioning in late 2027.”
Jack Lundin, President and CEO of Lundin Mining
“At Vicuña, we secured a long-term Provincial Agreement with the Province of San Juan and received approval to construct the high-voltage powerline connecting the project to the national grid. These are important milestones as we continue to advance the project toward a sanction decision before year-end.”
Jack Lundin, President and CEO of Lundin Mining
“Despite the operational challenges encountered at Caserones, Lundin Mining remains well positioned, with a strong balance sheet and an exceptional pipeline of organic growth opportunities. We remain focused on executing our strategy and achieving our ambition of becoming a top ten global copper producer.”
Lundin Mining Corporation VANCOUVER, BC, November 4, 2026 /CNW/ - (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) today reported its third quarter 2026 financial results. Unless otherwise stated, results are from continuing operations and presented in US dollars on a 100% basis.
Jack Lundin, President and CEO commented, "In the third quarter of 2026, Lundin Mining generated its fourth consecutive quarter of revenue exceeding $1 billion. Supported by record realized copper prices, year to date, our adjusted EBITDA of $1.9 billion and free cash flow from operations of $1.2 billion have both already surpassed their full-year 2025 totals, positioning the Company for what we expect to be another record beating financial year.
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