Make Kitco Your Homepage

Lundin Mining says achieved 2022 production guidance for copper, nickel and gold

Kitco News

Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.

(Kitco News) - Lundin Mining (TSX: LUN) announced yesterday that its 2022 production guidance was substantially achieved on a consolidated basis for copper, nickel, and gold, with nickel and gold production achieved the top end of the guidance ranges. The company’s 2022 zinc production was below guidance.

The company said that its 2022 consolidated copper production was approximately 250,000 t (2021: 262,884 t), and total copper-equivalent consolidated production was over 390,000 t.

According to a press release, Candelaria copper production of 152,042 t was modestly below guidance, while gold production of 86,000 oz achieved the top end of the guidance range.

Chapada copper production of 45,739 t achieved guidance and gold production of 68,000 oz exceeded the top end of the guidance range. Eagle nickel production of 17,475 t and copper production of 15,895 t both achieved guidance.

The company said that copper production is forecast to be 236,000-260,000 t on a consolidated basis in 2023, adding that higher consolidated copper production of 256,000-280,000 t is forecast for 2024 due mainly to mine sequencing and the planned copper grade profile at Candelaria.

Zinc production is forecast to increase to 180,000-195,000 t on a consolidated basis in 2023, increasing further over the three-year period to reach 225,000-240,000 t in 2025.

Consolidated gold production is forecast to be 140,000-150,000 oz in 2023 and to be relatively constant through the three-year outlook period. Nickel production is to be 13,000-16,000 t in 2023 and to moderate over the three-year period.

Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

U.S. DOE offers conditional commitment for a loan of up to $700M for Rhyolite Ridge lithium project

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.