Lundin Mining Stock Earnings Reports

Lundin Mining reported a strong Q3 2025: best quarter year-to-date by many metrics with consolidated copper production of ~87.4 kt (YTD 244.2 kt) and increased full-year copper guidance to 319–337 kt (midpoint up ~11.5 kt). Consolidated C1 cash cost for the quarter was $1.61/lb and full-year consolidated cash-cost guidance was tightened and lowered to $1.85–$2.00/lb. Revenue was over $1 billion, adjusted EBITDA ~$490 million, and adjusted operating cash flow ~$383 million for Q3. The company generated free cash flow and reduced net debt to about $108 million at quarter end, expecting to be essentially net-debt free by year-end. Operational highlights include strong performances at Caserones (notably higher cathode output with updated leach model and full-year cathode now expected ~24 kt vs. an initial ~16 kt plan), steady Candelaria throughput, and consistent Chapada and Eagle results. Management announced a leadership addition for the Vicuña joint-venture (Ron Hochstein as CEO) and reiterated key near-term catalysts: RIGI reapplication (potentially before year-end), publication of the integrated technical report for the Vicuña project in Q1 2026 (path toward potential sanction), and continued work on the Chapada Saúva near-mine opportunity. Q3 included a ~20 kt concentrate shipment delay from Caserones (weather/port), creating a working-capital build expected to unwind in Q4. Total CAPEX in Q3 was $160 million (9M $485M); full-year CAPEX guidance reduced to $750 million after deferrals/reclassifications. Capital allocation: declared regular quarterly dividend, ongoing buyback program (~$45M remaining) with any unspent buyback dollars to be returned as a special dividend to meet the $220M annual return target. Management reiterated focus on safety (TRIF 0.29 YTD) and disciplined execution of growth initiatives while derisking Vicuña toward potential sanction.