Lundin Mining Reports Second Quarter 2026 Results; Strong Operational Performance Generated Near-Record Revenue and Free Cash Flow

About this update from Lundin Mining Corporation

VANCOUVER, BC, Aug. 5, 2026 /CNW/ -- (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") today reported its second quarter 2026 financial results. Unless otherwise stated, results are from continuing operations and presented in US dollars on a 100% basis. Jack Lundin, President and CEO commented, "We delivered another quarter of strong operational and financial performance, producing approximately 77,000 tonnes of copper and 33,000 ounces of gold while generating near-record revenue of $1.2 billion and adjusted EBITDA of $658 million. Our operations continued to perform well, with strong contributions from Caserones and improved recoveries at Chapada, while Candelaria was impacted by planned mine sequencing adjustments. "While higher diesel prices increased costs during the quarter and recent severe winter weather has temporarily disrupted operations at Caserones, we remain well positioned to achieve our annual copper production guidance of 310,000 to 335,000 tonnes and expect cash costs to finish within our guided range of $1.90 - $2.10/lb. "We also continued to advance our growth strategy, progressing with approval for the construction of an additional ball mill at Chapada which is key to unlocking the Saúva project. Another important milestone at Vicuña Corp. was reached with the approval of RIGI PEELP status in Argentina, supporting our objective of reaching a Stage 1 sanction decision by year-end. Lastly, in the second quarter, we strengthened our ownership in the Vicuña district through the acquisition of an additional 5% interest in Caserones and a 30.9% interest in Los Helados, while maintaining a net cash position and continuing to return capital to shareholders through our share repurchase program. "Looking ahead, our priorities remain clear: operating safely, delivering consistent performance, advancing our organic growth opportunities and progressing Vicuña toward sanctioning. Supported by a portfolio of long-life, high-margin assets and one of the industry's strongest copper growth pipelines, Lundin Mining is well positioned to deliver long-term value for shareholders." Second Quarter Operational and Financial Highlights Continued consistent operational performance, supported by elevated metal prices, drove strong cash flow generation during the quarter, enabling the Company to end the period with ...

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