Business
Lundin Mining Reports First Quarter 2025 Results
VANCOUVER, BC, May 7, 2025 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") today reported its first
About this update from Lundin Mining Corporation
[{"type":"text","content":" VANCOUVER, BC, May 7, 2025 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (\"Lundin Mining\" or the \"Company\") today reported its first quarter 2025 financial results. Unless otherwise stated, results are presented in United States dollars on a 100% basis. Jack Lundin, President and CEO commented, \"In the quarter we produced 76,774 tonnes of copper and 31,849 ounces of gold, keeping us firmly on track to achieve our annual guidance. Higher realized gold prices and solid operating performance drove nearly $1 billion in revenue, alongside $388 million in adjusted EBITDA from continuing operations and $337 million in adjusted operating cash flow from continuing operations. Our consolidated copper cash costs came in at $2.07 per pound, within the lower end of our guidance range, demonstrating our continued focus on cost discipline. \"Beyond operations, we completed several key strategic initiatives, including the $1.4 billion sale of our European assets on April 16th, which has meaningfully strengthened our balance sheet. We also introduced a new shareholder distribution policy that targets $220 million in annual shareholder returns. \"In January we finalized the joint acquisition of Filo Corp. with our partner BHP to form Vicuña Corp., and earlier this week we announced the combined Mineral Resource estimate for the Filo del Sol and Josemaria deposits collectively, the Vicuña project, demonstrating a significant future growth opportunity for the Company. This quarter reflects the strength of our strategy and positions us well for the year ahead.\" First Quarter Operational and Financial Highlights On April 16, 2025, the Company closed the sale of its European assets, Zinkgruvan and Neves-Corvo, to Boliden for cash consideration of $1,402 million. The financial results from these assets are reported as \"discontinued operations\" in the Company's financial statements. Copper Production: Production of 76,774 tonnes of copper in the first quarter from continuing operations. Other Production: During the quarter, 32,000 ounces of gold and 2,296 tonnes of nickel were produced. Revenue: $963.9 million in the first quarter from continuing operations with a realized copper price1 of $4.63 /lb and a realized gold price1 of $3,349 /oz. Net Earnings and Adjusted Earnings1: During the quarter, net earnings f...