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Lundin Mining Provides Update on Chile Operations After Second Winter Storm

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Lundin Mining (LUN.TO) provided an update on operations at the Caserones and Candelaria mines in Chile following a second winter storm in the Atacama region.

A second power outage occurred on Aug. 14 at Caserones after a transmission tower was damaged by severe winds and heavy snowfall, the company said on Wednesday. This follows an initial outage from July 18 to 30. Repair work is underway, with full power restoration expected by the end of the week.

As a result of the weather events, Caserones' 2026 copper production guidance has been lowered to 120,000 to 130,000 tonnes, from the previous guidance of 130,000 to 140,000 tonnes. Cash cost guidance was raised to $2.15 to $2.35 per pound of copper, from the original guidance of $2.05 to $2.25 per pound.

Including Candelaria, consolidated copper production guidance is now 300,000 to 325,000 tonnes, and cash cost guidance is now $1.95 to $2.15 per pound of copper.

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