2026 Consolidated Guidance1
|
285,000 - 310,000
Tonnes Copper Guidance |
134,000 - 149,000
Ounces Gold Guidance |
$1.95 - $2.15
Per Pound Consolidated C1 Cash Costs2 |
$980
Million Total Capital Expenditure2 |
Footnotes
- Revised Guidance as of November 4, 2026. Please see Lundin Mining's MD&A for the three and nine months ended September 30, 2026. Full-year production guidance shown on a 100% basis
- Consolidated cash cost per pound and capital expenditures are non-GAAP measures. Please also see the Management's Discussion and Analysis for the year ended December 31, 2025, and for the three and nine months ended September 30, 2026. Unless otherwise stated, dollar amounts are presented in United States dollars.
2026 Guidance by Site1
| Site | Copper Production (tonnes) |
Gold Production (ounces) |
C1 Cash Costs2,3 ($/lb copper) |
Sustaining Capital2 ($M) |
Expansionary Capital2 ($M) |
Expansionary Vicuña Capital2 ($M) |
| Candelaria (100% basis) | 135,000 - 145,000 | 77,000 - 87,0004 | $2.05/lb - $2.25/lb | $215 | ||
| Caserones (100% basis) | 105,000 - 115,000 | $2.15lb - $2.35/lb | $215 | |||
| Chapada | 45,000 - 50,000 | 57,000 - 62,000 | $0.75/lb - $0.95/lb5 | $100 | ||
| Total | 285,000 - 310,000 | 134,000 - 149,000 | $1.95/lb - $2.15/lb | $530 | $55 | $395 |
Footnotes
- Revised Guidance as of November 4, 2026. Please see Lundin Mining's MD&A for the three and nine months ended September 30, 2026. Full-year production guidance shown on a 100% basis
- C1 Cash costs, consolidated cash cost per pound, sustaining capital expenditures and expansionary capital expenditures are non-GAAP measures. Please also see the Management's Discussion and Analysis for the year ended December 31, 2025, and for the three and nine months ended September 30, 2026. Unless otherwise stated, dollar amounts are presented in United States dollars.
- 2026 revised cash cost guidance is based on various assumptions and estimates, including but not limited to: production volumes, commodity prices (Au: $4,000/oz, Ag: $70.00/oz), foreign exchange rates (USD/CLP:900, USD/BRL:5.00) and operating costs.
- 68% of Candelaria's total gold and silver production are subject to a streaming agreement. Cash costs are calculated based on receipt of approximately $437/oz gold and $4.36/oz silver on streamed ounces.
- Chapada's cash cost is calculated on a by-product basis and does not include the effects of its copper stream agreements which are reflected in copper revenue.
3-Year Production Guidance1
| 2026 | 2027 | 2028 | ||
| Copper (t) | ||||
| Candelaria (100% basis) | 135,000 - 145,000 | 157,000 - 167,000 | 135,000 - 145,000 | |
| Caserones (100% basis) | 105,000 - 115,000 | 115,000 - 125,000 | 115,000 - 125,000 | |
| Chapada | 45,000 - 50,000 | 43,000 - 48,000 | 40,000 - 45,000 | |
| Total Copper | 285,000 - 310,000 | 315,000 - 340,000 | 290,000 – 315,000 | |
| Gold (oz) | ||||
| Candelaria (100% basis) | 77,000 - 87,000 | 85,000 - 95,000 | 75,000 - 85,000 | |
| Chapada | 57,000 - 62,000 | 58,000 - 63,000 | 57,000 - 62,000 | |
| Total Gold | 134,000 - 149,000 | 143,000 - 158,000 | 132,000 - 147,000 | |
Footnotes
- 3 Year Guidance as announced in Lundin Mining's press release dated January 21, 2026, entitled "Lundin Mining Announces 2025 Production Results and 2026 Guidance" and updated 2026 guidance as of November 4, 2026. Please see Lundin Mining's MD&A for the three and nine months ended September 30, 2026. Full-year production guidance shown on a 100% basis