Lundin Mining Corporation · TSX:LUN
Lundin Mining — Investor Day (June 2025)
134 slides from Lundin Mining's investor day presentation, Jun 18, 2025
Slide 1: Disciplined Copper Growth at Scale
Disciplined Copper Growth at Scale Capital Markets Day Presentation | June 2025 TSX: LUN NASDAQ STOCKHOLM: LUMI
Slide 2: Cautionary Statement on Forward-Looking Information
Cautionary Statement on Forward-Looking Information Certain of the statements made and information contained herein are “forward-looking information”, “future oriented financial reliance should not be placed on such information. Such factors include, but are not limited to: dependence on internation
Slide 3: Agenda
AGENDA WEDNESDAY JUNE 18 1:00 PM Introduction 30 MINS | Jack Lundin 1:30 PM Operations 60 MINS | Juan Andres Morel INVESTOR DAY 2:30 PM BREAK 2:45 PM Vicuña District 30 MINS | Jack Lundin 3:15 PM Exploration 30 MINS | Tim Walmsley 3:45 PM BREAK 4:00 PM Financial Overview 30 MINS | Teitur Poulsen 4:3
Slide 4: Today's Speakers
Today’s Speakers In Attendance Joel Adams – VP Commercial Adam Lundin Jack Lundin Juan Andrés Morel Peter Brady – EVP General Counsel Chair President & CEO COO Eduardo Cortes – VP Mining & Mineral Resources Ediney Drummond – MD Chapada Mine Robert Eriksson – Investor Relations Jennifer Kellogg – EA
Slide 5: Introduction
Introduction Purpose-built team to deliver results Jack Lundin President & CEO Lundin Mining Capital Markets Day 2025 5 Caserones
Slide 6: 2024: A Record-Breaking Year
2024: A Record-Breaking Year 369ktCu Record annual Cu $873M $227M Total dividends and production in 20241 FCF from Operations 20242 buybacks in 2024 3 major transactions: Achieved our 2030 carbon $5.6b in value3 reduction goal Caserones 1. 2024 consolidated copper production on a 100% basis for all
Slide 7: Lundin Mining in 2025
Lundin Mining in 2025 Corporate Office ▪ Q1 performance on track - 77kt Cu; 32koz Au; C1 $2.07/lb1 Eagle ▪ Unrivalled growth profile - Vicuña Project Ni Cu ▪ Exited Europe for $1.4B - Company net debt <$150M1 ▪ Shareholder distributions - 12.6 M shares purchased3 Candelaria Chapada Cu Au Cu Au 2025
Slide 8: Strategic Acquisitions and Divestitures
Strategic Acquisitions and Divestitures Streamlined portfolio, deleveraged balance sheet and the strongest growth profile amongst our peers 2022 Josemaria 2023 / 2024 Caserones 70% 2024 / 2025 Filo / Josemaria 50% 2025 Europe Josemaria Caserones Filo & Josemaria 50% Europe $485M or ₵3.2/lb. $1.3B or
Slide 9: Performance per Share
Performance per Share Disciplined capital allocation Copper Mineral Copper Gold Mineral Resources/Share1,2 Production/Share1,3 Resources / Share1,2 +200% +127% +4% 2021 2025 2021 2025 2021 2025 Candelaria 1. Based on approximately 736 million common shares issued and outstanding as of January 1, 202
Slide 10: Accretive Growth
Accretive Growth Mineral Resource replacement & copper production1 Copper Mineral Resources (Mt)2 Copper Production (kt) (100% basis) +150% +20% 32 303 - 330 13.7 38 41 36 337 21.3 276 18.8 19.4 13.9 221 214 10.4 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Measured and Indicated Inferred Measu
Slide 11: Operational Discipline: Driving Results
Operational Discipline: Driving Results Record Safety Performance Q1 2025 303–330kt Cu $1.95-$2.15/lb 2025 production 2025 Cu C1 cash cost Lowest LTIFR guidance4 guidance2,4 in 5 years1 $220M per year $6.5B 5 years 5 $8.1B over 5 years 5 Shareholder distributions3 Adj. OCF2 outlook Adj. EBITDA2 outl
Slide 12: Organic Growth to +500 ktpa Copper
Organic Growth to +500 ktpa Copper +500 kt2 ▪ Targeting 30 to 40 kt copper Copper (kt) / year production growth over the next 3 to 5 years1 ~10% ~350 kt1 ▪ Potential ~10% incremental copper production ▪ Longer term potential 303 - 330 growth to +500 ktpa copper2 2025 2028 - 2030 Long Term Target Gro
Slide 13: Organic Growth to +550 koz Gold/year
Organic Growth to +550 koz Gold/year ▪ Targeting 60 to 70 koz gold Gold (koz) / year +550 koz2 production growth over the next 3 to 5 years1 ▪ Potential ~40% incremental gold production ▪ Longer term potential ~40% ~205 koz1 growth to +550 koz gold/year2 135 - 150 2025 2028 - 2030 Long Term Target G
Slide 14: Vicuña: A giant mining district
Vicuña A giant mining district 14 Filo del Sol
Slide 15: Vicuña Mineral Resource Estimate
Vicuña Mineral Resource Estimate Summary of contained metal1 Copper Gold Silver M&I 13 Mt 32 Moz 659 Moz Inferred 25 Mt 49 Moz 808 Moz 1. On a 100% basis, Vicuña includes Josemaria and Filo del Sol deposits. Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. The
Slide 16: Safety & Sustainability
Safety & Sustainability Focused on the future SAFETY PERFORMANCE SUSTAINABILITY ▪ New safety system implemented in 2023 ▪ Met 2030 carbon reduction target in 2024 ▪ Record Q1 performance across all operations ▪ Copper Mark designation at Chilean ops ▪ Best-ever quarterly TRIF result1 ▪ Lundin Founda
Slide 17: Improved Business
Improved Business Path to becoming a global top 10 copper producer Underpinned by a best-in-class team Streamlined Portfolio. Performance Focused. Unrivaled Growth. Deleveraged balance Cost discipline through Unlock near-mine sheet asset synergies opportunities Continued shareholder Consistency in a
Slide 18: Operations Overview
Operations Overview Juan Andrés Morel COO Lundin Mining Capital Markets Day 2025 Candelaria
Slide 19: Production vs. Guidance
Production vs. Guidance Establishing consistency Copper Production vs. Guidance1 ▪ Achieved production guidance in 2023 and 2024 ▪ Updated planning cycle and asset review process ▪ Tracking to production guidance for 2025 369 314 Quarterly Copper Production 2023 2024 Q2 tracking to guidance Gold Pro
Slide 20: Health & Safety Priority
Health & Safety Priority Improved safety performance Safety Performance Total Recordable & Lost Time Injury Frequency Rate ▪ New safety management system (FRM) implemented in 2023 0.8 ▪ Record 2025 Q1 safety performance FRM Launch across all operations ▪ Lowest LTIFR in 5 years1 0.4 ▪ Best-ever quar
Slide 21: Assets
Assets Candelaria, Caserones, Chapada, Eagle Juan Andrés Morel COO Lundin Mining Capital Markets Day 2025 Chapada
Slide 22: Operational Strategy
Operational Strategy Unlocking value Asset Context Intrinsic characteristics, externalities (either positive or negative) and comparative advantages Asset Full Potential “Where to focus, over the short and long-term, to unlock the maximum value of the ore body?” Asset Operational Excellence Asset St
Slide 23: Full Potential Programs
Full Potential Programs Value over volume Key areas of focus: ▪ Enhance the basics: Planning cycle and optimization of long-term mine plans ▪ Process improvements: Data driven to improve KPI’s and standardize processes (recoveries, tph, truck factor, avg speed, other) ▪ Cost reductions: Spending, su
Slide 24: Candelaria
Atacama (Chile) Candelaria Mine Overview1 Production & C1 Cash Costs2,3 Ownership 80% 180 $2.40 Mine Type OP/UG 170 $2.07 $2.20 160 $1.96 $1.80 – $2.00 ~80 Mtpa OP/ $2.00 Mine Movement $1.73 ~5.0 Mtpa UG 150 $1.80 Mill Throughput 140 75 ktpd | 3.8ktpd 43% (Candelaria | PAC) $1.60 130 140–150 152 152
Slide 25: Candelaria cont'd
N Atacama (Chile) Candelaria cont’d Old Tailings Facility Candelaria Norte UG Current Status ▪ Open pit optimization underway ▪ Underground mining contract insourcing ▪ Full potential program ongoing Opportunities ▪ Underground expansion update ▪ Gold streaming projected to step down late Candelaria
Slide 26: Candelaria: Reduced material moved improved cashflow profile
Candelaria Reduced material moved has improved the cashflow profile Mine Plan Optimization Mine Movement1 ▪ Change in pushback methodology 140 for quicker access to higher grades ▪ Prioritizing most profitable Extraction Rate (Mt) material ▪ Defer Española stripping for 70 higher value zones ▪ Reduc
Slide 27: Candelaria: Full potential program ongoing
Candelaria Full potential program ongoing Open Pit Mining Cost ($/t moved)1 Open Pit Strip Ratio (Waste: Ore) Sustaining Capital Expenditures1, 2 Trending down Improvements to the mine plan Trending down $4.71/t 3.28 Deferred Stripping Others Tailings Remaining 2025 2.85 $3.76/t $3.67/t $393M $380M
Slide 28: Candelaria Underground Insourcing
Candelaria Underground Insourcing Productivity improvements UG Internal Insourcing1 ▪ Reduce reliance on contractors ▪ Internalize numerous processes ▪ Efficiencies must be achieved before we proceed with output increases ▪ Higher productivity ▪ Better mechanical availability ▪ Higher development ra
Slide 29: Candelaria UG Growth
Candelaria UG Growth Reworked, gradual increase with lower capital intensity Throughput Increase1 (ktpd) ▪ Re-envisioned with the insourcing of the ~22 ~16 - 18 underground mining contract ~12 - 14 ▪ Similar results achievable with improved productivity and availability from insourcing ▪ Improved ca
Slide 30: Candelaria Streaming
Candelaria Streaming Franco Nevada streaming agreement expected to step down at the end of 2026 / early 2027 ▪ Streaming agreement will step down from 68% to Candelaria Gold Production Forecast (koz)1 40% once 720 koz has been delivered 100 100% ▪ Incremental 15 – 20 koz Au/year at market prices ▪ A
Slide 31: Candelaria 10-year outlook
Candelaria 10-year outlook Copper (kt) Comments ▪ Mine movement reduction to improve cash 200 flow during the next 5 years ▪ New Candelaria underground mine plan includes new stope design ▪ Growth opportunity through: 100 ▪ Candelaria underground insourcing and throughput increase ▪ Additional phase
Slide 32: Caserones
Vicuña District / Atacama (Chile) Caserones Mine Overview1 Production & C1 Cash Costs2, 3 Ownership 70% 150 $3.20 Mine Type OP 140 139 $3.00 125 124 115 - 125 Mine Movement ~84 Mtpa 130 $2.80 120 $2.60 Mill Throughput ~100 ktpd 110 $2.22 40% 100 $2.40 $2.51 $2.40 - Cathode Capacity 35 ktpa Cu 90 $2.
Slide 33: Caserones cont'd
N Vicuña District / Atacama (Chile) Caserones cont’d Caserones Pit Current Status ▪ Throughput debottlenecking ▪ Full Potential efforts ongoing ▪ Increased cathode utilization Opportunities Dump Leach ▪ Cathode production capacity ▪ Angelica oxide exploration Crusher SX-EW Plant ▪ Infill drilling to
Slide 34: Caserones: Full potential program – cost discipline
Caserones Full potential program ongoing – cost discipline ▪ Cost reductions through optimization, productivity improvements, contract re-negotiations, insourcing and supply chain synergies (Candelaria / Caserones) Caserones ($/t milled)1,2,4 Caserones EBITDA Margin3,4 $20.0 (10%) 36% reduction $18.
Slide 35: Caserones: operational discipline
Caserones Full potential program ongoing – operational discipline Mine Operations Q2/Q3 impacted by Mill Optimization weather & labor action ▪ Record mining rates in March ▪ Record throughput in January (ktpd) +21% 236 +15% (tph) 4,317 4,330 217 216 4,271 4,222 4,179 204 204 202 4,055 4,136 4,022 17
Slide 36: Caserones Cathode Capacity
Caserones Cathode Capacity Improved utilization Cathode Production (tpa) Increased Cathode Production ▪ Historical plant utilization at ~50% ~ Nominal capacity ~35,000 ▪ Increased irrigation rates on the dump leach ▪ Additional irrigation of the dump leach slopes 23,900 ▪ Increased material placemen
Slide 37: Angelica – Oxide/Sulphide Exploration Target
Angelica – Oxide/Sulphide Exploration Target Exploration potential ▪ The Angelica target is located ~2 km from Caserones mill Dump Leach and cathode plant Caserones ▪ New Cu-Mo sulphide Cathode Plant discovery under Cu Oxides Flotation Plant Angelica Known Cu Oxides 1 km Lundin Mining Capital Market
Slide 38: Caserones 10-year outlook
Caserones 10-year outlook Copper (kt) Comments ▪ Significantly improved processing 200.0 plant performance compared to the last 3 years ▪ Growth opportunity through cathode production increases 100.0 - 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 1 2 Base LOM Growth LoM 1. Management’s indicati
Slide 39: Chapada
Goias, Brazil Chapada Mine Overview1 Production & C1 Cash Costs2,3 Ownership 100% 80 3.00 68 65 2.80 Mine Type OP 70 59 57 - 62 2.60 60 2.40 Mine Movement ~52 Mtpa 46 46 43 40 - 45 50 2.20 40 $2.27 2.00 Mill Throughput ~65 ktpd $2.08 12% 1.80 30 1.60 Mineral Reserve 0.23% | 0.12g/t 20 Grade (Cu | Au
Slide 40: Chapada cont'd
North N Goias, Brazil Pit Chapada cont’d Current Status Central Plant Pit ▪ Most matured Full Potentail ▪ Mine plan optimization driving results ▪ Gold recovery improvement ongoing SW Pit Opportunities ▪ Technical study underway for the Saúva Tailings Facility project South Pit 2 km Open Pit Plant L
Slide 41: Chapada: Full potential program has delivered results
Chapada Full potential program has delivered results Open Pit Mining Cost ($M)1 Strip Ratio (Waste: Ore) All-in Sustaining Costs ($/lb Cu)1 Trending down Improvements to the mine plan Trending down $170M $171M 1.53 $3.36/lb $122M $3.24/lb 1.13 0.93 $3.07/lb 2022 2023 2024 2022 2023 2024 2022 2023 20
Slide 42: Chapada: Reduced material moved
Chapada Reduced material moved has improved the cashflow profile Mine Plan Optimization Mine Movement1 ▪ Reduced mine movement by 100 ~30 Mtpa ▪ Increased stockpile feed to 6 Extraction Rate (Mt) Mtpa to 8 Mtpa 50 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 LOM 2023 LOM 2025 1. Man
Slide 43: Chapada Growth – Saúva Phase 1
Saúva Chapada Growth – Saúva Phase 1 Current Status ▪ ~15 km from Chapada, offset lower grade material with higher grade ore and adding additional grinding capacity ▪ PFS underway on Phase 1 – Q4 2025 ~15 km ▪ Permitting work ongoing ▪ Capital intensity ~$8,000/t copper1,2 ▪ Phase 2 expansion study
Slide 44: Chapada Growth – Saúva
Chapada Growth – Saúva Pit expansion + underground potential A B N 500 m Saúva Phase 1 pit A Saúva Phase 2 pit Growth Potential Saúva B Phase 2 pit Saúva Phase 2 pit Saúva Phase 1 pit High-grade mineralization Low-grade 2024 MRMR UG (above 1% CuEq)1 Mineralization footprint (above 0.1% Cu) 2024 MRMR
Slide 45: Chapada Growth – Saúva Phase 1
Chapada Growth – Saúva Phase 1 Phase 1 Scoping Study1 Phase 1 Incremental Production1 Ownership Mine Type 100% OP 15 to 20 ktpa Cu 50 to 60 koz/yr Au 4-year average 4-year average Initial Capital ~$155M Mine Throughput Head Grade ~6 Mtpa ~50% Increase to Cu production1 ~100% Increase to Au productio
Slide 46: Chapada 10-year outlook
Chapada 10-year outlook Copper (kt) Comments 100 ▪ Growth includes additional grinding, gold recovery and Saúva Saúva ▪ Saúva Phase 1 PFS underway Phase 2 50 Phase 1 - 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Base LoM Growth LoM 1 2 1. Management’s indicative forecasts, based on (among othe
Slide 47: Eagle
Michigan, USA Eagle Mine Overview1 Production & C1 Costs2,3 Ownership 100% 17 16 18 4.5 16 Mine Type UG 16 4 14 $4.20 $3.05 - $3.25 14 3.5 Mine Movement ~1.1 Mtpa 12 3 10 8 - 11 8 - 10 2.5 5% Mill Throughput ~2,000 tpd 7 6 8 2 $2.16 Copper Mineral 6 1.5 $0.79 Q1 2025 revenue contribution Reserve Gra
Slide 48: Eagle cont'd
N Michigan, USA Eagle N Mine Eagle Mine To Humbolt Eagle cont’d Mine Facilities Mill Current Status ▪ Ramp rehabilitation completed and throughput back to full capacity UG Infrastructure ▪ ~4 to 5 years of mine life Humbolt Mill Tailings Facility Opportunities ▪ Full Potential to maintain profitab
Slide 49: Boulderdash Earn-in Agreement
Boulderdash Earn-in Agreement1 Exploration Potential ▪ Earn-in agreement for a 70% ownership Eagle Mine interest in Boulderdash Boulderdash Project United States ▪ Similar deposit style to Eagle and Eagle East with high Ni-Cu tenors ▪ Located 12 km from the Eagle Mine ▪ A discovery could meaningfull
Slide 50: Operational Excellence
Operational Excellence OPERATIONAL FOCUS PLANNING CYCLE ▪ Operational Philosophy ▪ Mine Plan Optimization ▪ Value Tracking ▪ LOM & Budget ▪ Operating Model ▪ Sustaining CAPEX ▪ Initiative Portfolio optimization STRATEGIC ASSET FULL OVERSITGH POTENTIAL T PEOPLE ASSET STRATEGY MANAGEMENT SYSTEM ▪ Grow
Slide 51: Cost Discipline
Cost Discipline Candelaria ($/t milled)2,4 $31.5 (30%) reduction EBITDA Margins1,4 are increasing at all sites (%) Candelaria Chapada Caserones $22.2 58% 44% 38% 36% 38% 34% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2023 2023 2023 2024 2024 2024 2024 2025 Q4 2022 Q1 2025 Q4 2022 Q1 2025 Q3 2023 Q1 202
Slide 52: Mid-Term Low Capital Intensity Organic Growth
Mid-Term Low Capital Intensity Organic Growth 30 to 40 kt copper production growth over the next 3 to 5 years Potential ~10% incremental copper production and ~40% gold production growth from existing operations Copper (kt) Gold (koz) ~205 koz ~350 kt ~10% ~40% 303 - 330 135 - 150 2025 Candelaria UG
Slide 53: Operations Summary
Summary Operations Operational discipline. Full potential. Low capital- intensive, near-term Safety focused. Optimization efforts growth projects. delivering results. Lundin Mining Capital Markets Day 2025 Caserones
Slide 54: Vicuña District: Size, Scale & Grade
Josemaria Vicuña District Filo del Sol Size, Scale & Grade Jack Lundin President & CEO Lundin Mining Capital Markets Day 2025 Vicuña District
Slide 55: Giant Metal Deposits
Giant Metal Deposits Productive Efficient Rare A NEW CLUSTER Vicuña 40% of the world’s copper comes from the central Andes1. Most of it from a few giant deposit clusters. Lundin Mining Capital Markets Day 2025 1 Wood Mackenzie, Scotiabank estimates 55
Slide 56: Atacama Region & Vicuña District
Atacama Region & Vicuña District Long history in the area ARGENTINA ▪ Two operating mines ▪ Port and desalination plant in the region ▪ Infrastructure to leverage assets El Morro Lundin Mining Capital Markets Day 2025
Slide 57: Vicuña – The Next Major Copper District
Vicuña – The Next Major Copper District The last five years 2026 MAY, 2025 Integrated JULY, 2024 Vicuña Technical announces Report on the JULY, 2024 Lundin MAR, 2023 mineral Vicuña Argentina Mining and resource and APR, 2022 District Lundin RIGI BHP acquire the largest FEB, 2022 Josemaria Mining Fil
Slide 58: Formation of Vicuña Corp.
Formation of Vicuña Corp. January 2025 50% 50% Filo Del Sol Project Project Lundin Mining Capital Markets Day 2025 58
Slide 59: Vicuña Corp. & District Overview
Vicuña Corp. & District Overview CASERONES FILO DEL SOL ANGELICA CUMBRE VERDE LUNAHUASI LOS HELADOS Resource pit outline CHILE JOSEMARIA ARGENTINA Resource pit outline Lundin Mining Vicuña Corp. NGEx Minerals 2 km Panoramic view looking towards the West 59
Slide 60: Filo 2019: Focused on Shallow Mineralization
Filo 2019: Focused on Shallow Mineralization SOUTH NORTH FILO DEL SOL CuEq % > 3.0% > 1.0% > 0.7% TAMBERIAS > 0.5% ZONE > 0.3% FILO > 0.1% FSDH029 ZONE 800m @ 0.45 AURORA (0.24 / 0.26 / 2) ZONE FSDH026 BONITA 2 km 614m @ 0.65 ZONE (0.39 / 0.34 / 2) VRC089 42m @ 2.88 (0.78 / 1.13 / 146) FSDH025 FSDH0
Slide 61: Filo 2023: Focused on Building out the Size
Filo 2023: Focused on Building out the Size SOUTH NORTH FILO DEL SOL CuEq % > 3.0% > 1.0% > 0.7% TAMBERIAS > 0.5% ZONE > 0.3% FILO > 0.1% ZONE AURORA ZONE BONITA 2 km ZONE FSDH064 1356m @ 1.09 (0.58 / 0.53 / 14) FSDH032 FSDH041 FSDH055C 1009m @ 0.95 Copper Equivalent (CuEq) for Filo del 858m @ 1.80
Slide 62: Filo 2025: Expanding into Bonita Zone
Filo 2025: Expanding into Bonita Zone SOUTH NORTH FILO DEL SOL CuEq % > 3.0% > 1.0% > 0.7% TAMBERIAS > 0.5% ZONE > 0.3% FILO > 0.1% ZONE AURORA ZONE BONITA 2 km ZONE Filo del Sol copper equivalent (CuEq) assumes average metallurgical recoveries of 78% for copper, 62% for gold and 62% for silver, and
Slide 63: Filo 2025: Initial Sulphide Resource
Filo 2025: Initial Sulphide Resource SOUTH NORTH FILO DEL SOL CuEq % > 3.0% > 1.0% > 0.7% TAMBERIAS > 0.5% TAMBERIAS ZONE ZONE > 0.3% FILO > 0.1% FILO ZONE ZONE AURORA AURORA ZONE ZONE BONITA 2 km 2 km BONITA ZONE ZONE Filo del Sol copper equivalent (CuEq) assumes average metallurgical recoveries of
Slide 64: Filo del Sol Deposit – High-Grade Core
Filo del Sol Deposit – High-Grade Core 6.5 km S N Block model highlighting high- grade > 0.75% CuEq1 ▪ 600 Mt at 1.14% CuEq M&I Filo del Sol Sulphide high-grade core, 100% basis, 0.75% CuEq cut-off CuEq grade (%) Tonnes CuEq Cu Au Ag Au Ag Category Cu (kt) >1 0.1 - 0.25 (Mt) % (%) (g/t) (g/t) (Moz)
Slide 65: Big Deposits Get Bigger
Big Deposits Get Bigger Filo del Sol block model and 6.5 km pit outline ▪ Drilling strategy to support advancement of integrated studies (Infill, Geotechnical & Metallurgical) CuEq grade1 (%) >1 0.1 - 0.25 0.5 - 1 0.05 - 0.1 0.25 - 0.5 0.025 – 0.05 Block model 1. For more information, please refer t
Slide 66: Josemaria – High-Grade Core
Josemaria – High-Grade Core 2.5 km S N Block model highlighting high- grade > 0.60% CuEq1 ▪ 200 Mt at 0.73% CuEq M&I Josemaria high-grade core, 100% basis, 0.60% CuEq cut-off Tonnes CuEq Cu Au Ag Cu Au Ag Category (Mt) % (%) (g/t) (g/t) (kt) (Moz) (Moz) CuEq grade (%) Measured 161 0.74 0.50 0.39 1.7
Slide 67: Copper Resources of the Largest Copper Mines
Copper Resources of the Largest Copper Mines Vicuña is in the top 10 (contained copper Mt) Escondida Collahuasi Buenavista Kamoa Kakula KGHM Poland ˜ Vicuna 13 25 Grasberg Norilsk Kola Tenke Fungurume Cerro Verde Antamina Copper (M+I) Copper (Inf) Lundin Mining Capital Markets Day 2025 For illustrat
Slide 68: Gold Resources of the Largest Gold Mines
Gold Resources of the Largest Gold Mines Vicuña is in the top 5 (contained gold Moz) Nevada Ops Grasberg ˜ Vicuna 29 46 Olimpiada Detour Lake Lihir Malartic Kibali Loulo Ahafo Tasiast Gold (M+I) Gold (Inf) Lundin Mining Capital Markets Day 2025 For illustrative purposes only to show relative ranking
Slide 69: Silver Resources of the Largest Silver Mines
Silver Resources of the Largest Silver Mines Vicuña is in the top 5 (contained silver Moz) KGHM Poland ˜ Vicuna 548 702 Antamina Fresnillo Garpenberg Penasquito Saucito Juanicipio Greens Creek Uchucchacua San Julian Silver (M+I) Silver (Inf) Lundin Mining Capital Markets Day 2025 For illustrative pu
Slide 70: Vicuña Corp. – 2025 Guidance
Vicuña Corp. – 2025 Guidance Vicuña capital expenditure 50% basis ▪ Expanded the budget by ~$60M, to accelerate planned activities into 20251,2 Camp Costs $215M Road Works Engineering, Hydrology, EPCM & Owners Cost Drilling Indirects, VAT & Tax Filo del Sol Drill Rig 1. Expansionary capital expendit
Slide 71: Vicuña Corp. Concept
Vicuña Corp. Concept Phased development strategy1 will minimize upfront capital spend ▪ Most advanced project in the district Higher Josemaria ▪ Conventional large-scale open pit providing infrastructure for the Vicuña District Level of project definition ▪ Oxide mineralization above Filo sulphide F
Slide 72: Vicuña Corp. – Josemaria
Vicuña Corp. – Josemaria Advanced stage development asset to unlock the Vicuña District ▪ Permitting: Feasibility Study completed in 2020 forms the basis of the EIA ▪ Expanded concentrator study underway to incorporate future phases Mill Shell Gearless Motors ▪ Geometallurgical and hydrology testing
Slide 73: Argentina Investment Environment
Argentina Investment Environment Argentina’s incentive regime for large-scale investments (RIGI) ▪ Application window for RIGI July 2024 to July 2026 ▪ Key commercial criteria to qualify for "long term strategic export status": ▪ 20% of $2.0B threshold over 2 years to secure up to a 40-year stabilit
Slide 74: Production: Top Copper, Gold and Silver Mines
Production: Top 10 Copper, Gold and Silver Mines Vicuña has potential to be ranked in the top 10 for annual copper, gold and silver production1 2024 Cu Production (kt)2 2024 Au Production (koz)2 2024 Ag Production (Moz)2 Escondida Nevada Ops KGHM Poland Grasberg Grasberg Penasquito Collahuasi Olimpi
Slide 75: Exploration
Exploration Track record of exploration success Tim Walmsley VP Exploration Lundin Mining Capital Markets Day 2025 Caserones Core
Slide 76: Track Record of Mineral Resource Growth
Track Record of Mineral Resource Growth1,2 Exploration has been a core value driver for Lundin Mining 320 Candelaria Cu % 101 Neves Corvo Cu % Acquisition year: 2014 Acquisition year: 2006 Divestiture year: 20253 1,390 60 % % Zinkgruvan Zn Eagle Ni Acquisition year: 2004 Acquisition year: 2013 Filo
Slide 77: Proven Exploration Success
Proven Exploration Success Candelaria case study Since Lundin Mining’s Mine life Nearly Over Over 2014 acquisition of Candelaria: Extended 160% and production profile improved1 in forecast copper production 256% 320% in M&I Mineral Resource1,2 increase in M&I Mineral Resource over the life-of-mine (
Slide 78: MIRA: Growth Pyramid
MIRA: Growth Pyramid Candelaria case study VALUE NPV, LOM, MIRA Marginal costs Mineral Inventory Range Analysis PRODUCTION Throughput: kT/day Product: kT Cu/year GOALS PLANNING ▪ Provide better understanding on Open pit, Underground, Infrastructure mineral potential of an area RESOURCES > RESERVES L
Slide 79: Global Exploration 2025
Global Exploration 2025 Chapada Santos Caserones Saúva Candelaria Angelica Espanola Candelaria Caserones Chapada Cumbre Verde Josemaria Boulderdash (New Option) Eagle + Eagle East Filo del Sol Mineral Rights Eagle Mine 15 km Mining Concession Project Lundin Mining Capital Markets Day 2025 Vicuña Cor
Slide 80: Vicuña District: Caserones & Vicuña Project
Vicuña District: Caserones & Vicuña Project N Caserones CASERONES ▪ Extensive land position of 60,027 hectares ANGELICA ▪ Caserones deposit growth CORDILLERA ▪ Angelica Cu sulphide discovery ▪ Over 12 porphyry targets LOS HELADOS only 2 drilled Las Pailas1 Vicuña Project Alteration Footprint JOSEMAR
Slide 81: Caserones 2025 Drilling Plan
Caserones 2025 Drilling Plan Caserones Caserones 1 High-grade Cu breccia within/below resource Dump Leach Growth 6,000 m Potential planned in 2025 SX-EW Plant Angelica Flotation Plant Caserones: High-Grade Cu Breccia Cu sulphides 2024 Drill Campaign Angelica beneath the SP24_05D: 132 m Cu Enrichment
Slide 82: Caserones Deep Sulphide: High-Grade Breccia Targeting
Caserones Deep Sulphide: High-Grade Breccia Targeting Exploration potential SP24-05D: 132 m Cu enrichment near surface plus 284 m Cu in new breccia A SP24-02D: 146 m Cu enrichment near surface (NW) plus 86 m Cu in Breccia Resource pit Sulphide (Dec 2024) (Supergene) B Sulphide (Hypogene) (SE) N New
Slide 83: Angelica – Oxide/Sulphide Exploration Target
Angelica – Oxide/Sulphide Exploration Target Exploration potential ▪ Previously explored for oxides with only shallow drillholes ▪ Cu Breccia intersected in two holes to date ▪ System size being tested now NE SW New Cu-Mo Sulphide Mineral Zone Intercepts Leached Zone Historic Holes end in Cu sulfide
Slide 84: Candelaria: Exploration Overview
Candelaria: Exploration Overview Exploration potential Lundin claims CANDELARIA NORTE UG SHORT-TERM Continue Resource Growth to North Lundin claims M&I Resources CANDELARIA SUR UG Mineral Inventory Extend Cu Mineralized Veins & Breccias Southwards N Candelaria 2022 ESPAÑOLA Resource Pit Extend surfa
Slide 85: Candelaria District Growth Potential
Candelaria District Growth Potential SW NE Candelaria Norte – La Portuguesa Long Section LA PORTUGUESA ESPAÑOLA CANDELARIA Española – Portuguesa connection?? Open Open CANDELARIA NORTE UG Another Candelaria at depth?? Candelaria Sur continuation?? 2 Km Resources pit At Candelaria Mineralization • Ex
Slide 86: Chapada – Saúva
Chapada – Saúva Organic growth opportunity 2024 Open-Pit Resources Saúva + Formiga Formiga Indicated: 249 Mt @ 0.29% Cu, 0.16 g/t Au High-grade core: 48 Mt @ 0.56% Cu, 0.53 g/t Au 2024 HIGH-GRADE EXTENSION Resource Pit Shell Saúva 500 m 2024 Drilling Underground Open Pit Resources Mineralization Und
Slide 87: Chapada – Saúva Underground
Chapada – Saúva Underground Open Pit Resources Indicated2: 249 Mt @ 0.29% Cu and 0.16 g/t Au UG resource growth potential High Grade Core3: 48 Mt @ 0.56% Cu, 0.53 g/t Au, 0.80% CuEq A B N New High Grade Extension A High-Grade UG Resources Inferred4: 25 Mt @ 0.50% Cu and 0.41 g/t Au B Open pit 2024 R
Slide 88: Eagle – Boulderdash Earn-in Agreement
Eagle – Boulderdash Earn-in Agreement1 Overview ▪ Acquire 70% by funding 30,000 m drill program and feasibility study ▪ Initial hole drilled last year in October ▪ Mineralization starts just below the surface Humboldt Mill ▪ 99.92 m of 0.41% Ni and 0.35% Cu Boulderdash (discovery hole)2 Phased Earn-
Slide 89: Financial Overview
Financial Overview Strong balance sheet to fund growth Teitur Poulsen CFO Lundin Mining Capital Markets Day 2025 Chapada
Slide 90: Financial Framework Geared to Copper
Financial Framework Geared to Copper +80% C1 average cash cost of ~2.00/lb1 EBITDA margin of 45 - 50%1 Positioned for growth & consistent 5-yr. cum Adj. FCF from Ops $~4.9 bn1 shareholder distribution FINANCIAL RESILIENCE Annual shareholder distribution of ~US$220M3 Current net debt1 leverage < 0.2x
Slide 91: Key Macro Assumptions
Key Macro Assumptions BASE CASE LONG-TERM SENSITIVITIES METAL PRICES 2025 2026 2027+ METAL PRICES LOW BASE CASE HIGH Copper $4.40/lb $4.45/lb $4.50/lb Copper $4.00/lb $4.50/lb $5.50/lb Gold $3,000/oz $3,000/oz $2,500/oz Molybdenum $20.0/lb $20.0/lb $20.0/lb FOREIGN EXCHANGE Silver $30.0/oz $30.0/oz
Slide 92: FY 2025 Forecast & Sensitivities
FY 2025 Forecast & Sensitivities Base 1 Sensitivity Sensitivity to 10% to Base Case1 Copper Price Price 10% Copper 2025 Production Guidance Copper 303 – 330 kt Gold 135 – 150 koz 2025 Financial Forecast Revenue $3,700M +190 / -190 EBITDA3 $1,700M +180 / -180 Adjusted Operating Cash Flow3 $1,300M +14
Slide 93: Consolidated Production: +500 ktpa copper
Consolidated Production Consistent growth +500 ktpa copper 1,2 5-year outlook and target growth to our goal of: +550 koz/yr gold 1,2 Consolidated Production & Growth Targets1 +500 ktpa Cu ~350 ~320 ktpa Cu avg. ktpa Cu avg. Candelaria Caserones 275 ~310 Basecase2 ktpa Cu avg. 2022 - 2024 2025 - 2027
Slide 94: Unit Cash Costs & EBITDA
Unit Cash Costs & EBITDA 5-year outlook (2025 - 2029)1 C1 Unit Cash Costs2 EBITDA Margin2,3 Cumulative EBITDA2 2025 – 2029 ($/lb Cu) (%) ($B) 2.50 60% $10.9 $8.1 $6.6 45% 1.50 30% 2022 2023 2024 2025 2026 2027 2028 2029 2025 2026 2027 2028 2029 Cumulative 5 Year EBITDA High Consolidated C1 (US$/lb C
Slide 95: Cumulative Free Cash Flow
Cumulative Free Cash Flow 5-year outlook (2025 – 2029)1 Cumulative Free Cash Flow2 Cumulative Sustaining Capital2 Cumulative Sustaining Capital2 ($B) Breakdown by Site Breakdown by Category $8.6 $6.5 ($1.9) $6.9 $5.4 $4.9 $3.7 Capitalized stripping Sustaining Capital Candelaria Caserones High Chapad
Slide 96: Taxes
Taxes Overview ▪ A tax loss of $4B at Caserones ensures a continued low effective cash tax rate ▪ Chile: Monthly instalments based on prior year’s taxable income, then trued up when filing taxes in April (tax payment typically made in Q2 for the prior year) Chile Brazil Current Taxes / EBITDA (%)5,6
Slide 97: Net Debt, Liquidity & Leverage Ratio
Net Debt, Liquidity & Leverage Ratio Targeting a new credit facility towards year-end 2025 Net Debt1,3 and Liquidity Net Debt / EBITDA2,3 ($B) $3.0 $2.9B: RCF 1.75 + 1.15 Term Loan 1.2x $2.55B: RCF 1.75 + 0.8 Term Loan RCF: $1.75B 19% Caserones RCF: $1.75B Acquired $1.5 0.6x 51% Caserones Sale of Eu
Slide 98: Funding Capacity
Funding Capacity Positioned for growth $9.3 5-Year funding capacity (2025 – 2029)5,6,7 ($B) $6.9 $6.2 $4.9 $4.5 $3.7 $3.3 $1.7 $0.8 Shareholder Expansionary Available Funding Capacity 4 2 Distributions Capital Free Cash Flow High Adj. Free Cash Flow Distributions Leases, deferred 1 Low from Operatio
Slide 99: Shareholder Distribution Policy
Shareholder Distribution Policy $220M Annual Distributions Regular Dividend1 Share Buybacks2 Special Dividend ▪ CAD 0.11/share annually ▪ Up to $150 million annually ▪ Issued if regular dividend and share buybacks are less than $220 million Special dividend Q1 Q2 Q3 Q4 (if applicable) Dividend (CAD/
Slide 100: Financial Summary
Financial Summary Financial strength to deliver growth Operational Excellence. Robust Shareholder Balance Sheet. Distributions & Growth. Solid production base to deliver strong cashflows Leverage < 0.2x Delivering on sustained shareholder distribution Significant borrowing and growth capacity availa
Slide 101: Production & Cost Guidance Update
Production & Cost Guidance Update Teitur Poulsen CFO Lundin Mining Capital Markets Day 2025 Candelaria
Slide 102: 3-year Guidance Outlook
3year Guidance Outlook1 Copper Commentary kt 303 - 330 320 - 348 300 - 328 ▪ 3-year outlook remains intact ▪ Does not include growth initiatives 2025 2026 2027 Gold2 Nickel koz kt 144 - 159 8 - 11 135 - 150 132 - 147 6-9 4 -7 1. Based on 100% ownership. Guidance is presented on a consolidated basis
Slide 103: 2025 Production Guidance
2025 Production Guidance ▪ 2025 production guidance remains unchanged1 Guidance Production Guidance Production (t, oz; contained metal in conc.) (t, contained metal in conc.) Cu Candelaria (100%) 140,000 - 150,000 Au Candelaria (100%)2 78,000 - 88,000 Copper Gold Chapada 57,000 - 62,000 Caserones (1
Slide 104: 2025 Revised Cash Cost Guidance
2025 Revised Cash Cost Guidance Cash Revised Cash Costs1,3 Costs2,3 By Mine Candelaria4 $/lb Cu $1.80 - $2.00 Unchanged ▪ Guidance at Chapada decreased Caserones $/lb Cu $2.40 - $2.60 Unchanged due to increased by-products credits and weaker currency Chapada5 $/lb Cu $1.80 - $2.00 $1.30 - $1.50 Cons
Slide 105: 2025 Revised Capital Expenditure Guidance
2025 Revised Capital Expenditure Guidance ▪ Reductions at Caserones due to Capital Expenditures1 ($M) 20252 Revised3 rescheduled projects, being offset by higher Candelaria (100%) $205 $205 capital expenditure on tailings at Chapada Caserones (100%) $215 $200 ▪ Updated budget for Vicuña increased Ch
Slide 106: Sustainability
Sustainability Focused on the Future Nathan Monash VP Sustainability Lundin Mining Capital Markets Day 2025 Candelaria
Slide 107: Lundin Foundation – A Key Differentiator
Lundin Foundation – A Key Differentiator Lundin Foundation S upport I mprove & Me e t Addr e s s Cr e a te Va l ue Ac c e l e ra te S ta k e hol de r Cl i m a te a s a partners with Lundin Loc a l S us ta i na bi l i ty S tra te gi c Thr ough De ve l opme nt E x pe c ta ti ons S oc i a l I m pa c t
Slide 108: 2024 Sustainability Report
2024 Sustainability Report 15th sustainability report ▪ Highlights our efforts to address material sustainability topics ▪ Demonstrates the integration of our sustainability actions into our Corporate strategy ▪ Content aligned to the European Sustainability Reporting Standards Lundin Mining Capital
Slide 109: Our Approach to Environmental Stewardship
Our Approach to STRATEGIC PRIORITIES Environmental 01 ▪ Interim target based upon 2019 baseline of a 35% Scope 1 & 2 reduction Stewardship ▪ Understand future climate scenarios ▪ Build resilience at each operation Climate Action ▪ Refine Scope 3 understanding 02 ▪ Take action to address dust emissio
Slide 110: Achieved our 2030 Carbon Reduction Target
Achieved our 2030 Carbon Reduction Target Environmental stewardship – 2024 Highlights Updated baseline to Scenario analysis of Integration of incorporate Caserones. Completed pilot Improved our ability to acute and physical risks, Scope 1 review at estimate Scope 3 operational and On this basis, we
Slide 111: Environmental Stewardship – 2025 Priorities
Environmental Environmental Stewardship Stewardship – 2025 Priorities 2025 Priorities 1 Complete Scope 2 Achieve 100% 3 Further refine our 4Complete 5 Continue to 1 reviews at renewable power climate offset construction of implement Chapada and for our three Latin strategy additional water water eff
Slide 112: Our Approach to Social Performance
Our Approach STRATEGIC PRIORITIES to Social 01 Meaningful Stakeholder ▪ ▪ Inclusive, on-going dialogue with stakeholders Accessible grievance mechanisms Performance Engagement ▪ ▪ Third-party assessments of social license Transparent communications and reporting 02 Managing Social Risks ▪ ▪ Early de
Slide 113: Social Performance 2024 Highlights
Social Performance 2024 Highlights 28% decrease in Trust & Acceptance Social performance New agreements signed Local and national $6.7M in direct social community grievances scores increased across integrated into the with three Indigenous procurement, investments delivering year-over-year, reflecti
Slide 114: Social Performance 2025 Priorities
Social Performance 2025 Priorities 1 Implementing the Vicuña 2 Strong human rights 3 Local Content Plans 4 Improved integration of District External performance established developed and social performance across Engagement Strategy to through on-going due implemented at each site site teams and fun
Slide 115: Our Approach to Environmental Stewardship and Social Performance
Our Approach to Environmental Stewardship and Social Performance Strategic priorities Climate Action Air Quality Water Biodiversity Stewardship Meaningful Managing Respecting Generating Stakeholder Social Risks Indigenous & Shared Benefits Engagement & Impacts Human Rights Governance & Accountabilit
Slide 116: Final Remarks and Q&A
Summary Final Remarks and Q&A Jack Lundin President & CEO Lundin Mining Capital Markets Day 2025 Caserones
Slide 117: Summary
Summary OPERATIONAL EXCELLENCE CAPITAL ALLOCATION ▪ Safety ▪ Shareholder returns ▪ Consistent execution ▪ Brownfield expansion ▪ Production; Cost control ▪ Vicuña ▪ Exploration People FINANCIAL STRENGTH SUSTAINABILITY ▪ Strong cashflow from operations ▪ Environmental stewardship ▪ Clean balance shee
Slide 118: Questions – Thank you
Questions Thank you. Capital Markets Day, June 18, 2025 Lundin Mining Capital Markets Day 2025 118 Candelaria Geology Team
Slide 119: Appendix
Appendix Supplemental Information Lundin Mining Capital Markets Day 2025 Caserones Cathode
Slide 120: Mineral Reserves
Mineral Reserves Grade Contained Metal 000's Cu Zn Pb Au Ag Ni Mo Cu Zn Pb Au Ag Ni Mo Interest Site Category Tonnes % % % g/t g/t % % kt kt kt Koz Koz kt kt % Candelaria Proven 376,992 0.47 - - 0.11 1.4 - - 1,767 - - 1,282 17,330 - - 80% Combined Probable 245,120 0.46 - - 0.10 1.6 - - 1,128 - - 822
Slide 121: Mineral Resources
Mineral Resources Grade Contained Metal 000's Cu Zn Pb Au Ag Ni Mo Cu Zn Pb Au Ag Ni Mo Interest Site Category Tonnes % % % g/t g/t % % kt kt kt Koz Koz kt kt % Measured 852,817 0.54 - - 0.12 1.8 - - 4,646 - - 3,364 48,916 - - 80% Candelaria Indicated 589,044 0.58 - - 0.13 2.0 - - 3,436 - - 2,400 37
Slide 122: Vicuña District – Mineral Resource
Vicuña District – Mineral Resource Notes: Mineral Resources have an effective date of April 15, 2025. Mineral resources 100% basis are not mineral reserves and do not have demonstrated economic viability. Type Category Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t) Cu (kt) Au (Moz) Ag (Moz) Reported within a
Slide 123: Scientific and Technical Information
Scientific and Technical Information Unless otherwise indicated, Lundin Mining Corporation (the “Company”) has prepared the scientific and technical For a better understanding of each of the Company’s deposits, including information on data verification, assumptions information in this presentation
Slide 124: Outlook Assumptions
Outlook Assumptions Five-Year Financial Outlook Lundin Mining’s five-year financial outlook is indicative in nature and subject to change. The indicative five-year financial outlook is based on long-term commodity prices of $4.50/lb Cu, $2,500/oz Au and $30.00/oz Ag and a USD/CLP FX rate of 900 and
Slide 125: RIGI Overview
RIGI Overview Argentina’s incentive regime for large-scale investments (RIGI) Description Current Regime (LIM) RIGI3 Income tax 35% 25% VAT 21%1 - 10.5%2 Cash-free VAT (tax certificates) Exempt incl consumbles; 1% Exempt excl consumables but Import duties control fee require guarantee Provincial roy
Slide 126: Binational Treaty
Binational Treaty ▪ Binational Mining Treaty between Argentina and Chile signed in 1997 ▪ Establishes a legal framework for cross-border mining in the region allowing companies to operate on both sides of the border under a unified regulatory system ▪ A single project can operate seamlessly across b
Slide 127: Non-GAAP and Other Performance Measures
Non-GAAP and Other Performance Measures Certain non-IFRS financial measures, supplementary financial measures and non-GAAP ratios are included in this presentation. Lundin Mining believes that these measures, in addition to conventional measures prepared in accordance with International Financial Re
Slide 128: Non-GAAP and Other Performance Measures
Non-GAAP and Other Performance Measures Non-GAAP Measure Most Directly Comparable IFRS Measure Unit Q1 2025 FY 2024 Earnings before interest, taxes, Net earnings (loss) USD million $414.1 $1,132.5 depreciation and amortization ("EBITDA") Free cash flow from operations Cash provided by operating acti
Slide 129: Non-GAAP and Other Performance Measures
Non-GAAP and Other Performance Measures Non-GAAP Measure Definition Most Directly Comparable IFRS Measure Why Management Uses the Measure or Ratio Adjusted free cash Defined as cash flow provided by operating activities, excluding general Cash provided by operating activities related Adjusted free c
Slide 130: Non-GAAP and Other Performance Measures
Non-GAAP and Other Performance Measures Non-GAAP Measure ($000s) Q1 2025 FY 2024 Cash provided by operating activities 122,335 1,300,848 Sustaining capital expenditures (112,568) (549,100) General exploration and business development 11,831 45,352 Free cash flow from operations 21,598 797,100 Deduct
Slide 131: Non-GAAP and Other Performance Measures
Non-GAAP and Other Performance Measures Non-GAAP Measure ($000s) Q1 2025 FY 2024 FY 2023 Non-GAAP Measure ($000s) FY 2024 FY 2023 EBITDA continuing operations 414,111 1,132,526 1,080,518 Net debt 1,597,800 1,223,389 divided by: Revenue 963,874 3,422,604 2,743,444 EBITDA continuing operations 1,132,5
Slide 132: Non-GAAP and Other Performance Measures
Non-GAAP and Other Performance Measures Non-GAAP Measure - Q1 2025 FY 2024 FY 2023 Non-GAAP Measure - Q1 2025 FY 2024 FY 20231 Candelaria Caserones Production costs ($000s) 172,100 726,685 726,493 Production costs ($000s) 243,943 776,192 404,837 Ore milled (kt) 7,752 29,186 28,903 Ore milled (kt)2 1
Slide 133: Non-GAAP and Other Performance Measures
Non-GAAP and Other Performance Measures Non-GAAP Measure – Candelaria Q1 2025 FY 2024 FY 2023 FY 2022 $ millions Open Pit mine costs 83.7 337.9 378.4 353.9 Other costs1 88.4 388.8 348.1 343.3 Production costs 172.1 726.7 726.5 697.2 Total tonnes moved2 (kt) 22,789 94,119 100,652 75,200 Open pit mini
Slide 134: Disciplined Copper Growth at Scale
Disciplined Copper Growth at Scale We have the team We have multiple We are well-positioned and conviction to opportunities to create to achieve our vision of deliver. meaningful growth in becoming a top-tier both near and long- copper producer of term horizons. global scale.