Lundin Mining Corp

Latest Results (24.12.2024):

Revenue Performance

Lundin Mining Corp reported a quarterly revenue of $1,073 million for Q3 2024. This revenue was primarily driven by copper, which accounted for 75% of the total revenue, followed by gold at 9% and zinc at 9%. The Candelaria mine contributed the largest share of revenue at 44%, with Caserones following at 22%.

Production Highlights

In Q3 2024, Lundin Mining Corp achieved a copper production of 100 kt, with significant contributions from the Candelaria and Caserones mines. Gold production for the quarter was 47 koz, while zinc production reached 47 kt. The company noted higher grades at Candelaria and increased mill throughputs at Chapada as key factors in their production results.

Adjusted EBITDA and Cash Flow

Lundin Mining Corp reported an adjusted EBITDA of $458 million for Q3 2024. The adjusted operating cash flow for the same period was $305 million. These figures reflect the company's focus on optimizing operations and managing costs effectively across its mining sites.

Dividend Announcement

For Q3 2024, Lundin Mining Corp declared a quarterly dividend of C$0.09 per share, which translates to an annualized dividend of C$0.36 per share. The company emphasized that the declaration and payment of future dividends remain at the discretion of the Board of Directors.

Outlook and Guidance

Lundin Mining Corp provided revised production guidance for the full year, with expectations of higher copper grades at Candelaria continuing into Q4 2024. However, reduced throughput at Caserones and lower grades at Neves-Corvo have impacted the full-year guidance. The company remains focused on optimizing its operations to achieve its production targets.