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Lundin Mining (LUN) investor relations material
Lundin Mining Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved best quarter year-to-date with strong operational performance, record copper production, and increased copper production guidance for 2025.
Maintained consistent operational discipline and safety, with the lowest injury frequency rate in 10 years.
Advanced growth initiatives, including the Vicuña Project and brownfield expansions, and appointed Ron Hochstein as CEO of the Vicuña Corp joint venture.
Well positioned for future growth, aiming to become a top-tier global copper producer.
Financial highlights
Q3 2025 revenue exceeded $1 billion, with copper accounting for 79% of the mix and adjusted EBITDA of $490 million.
Adjusted operating cash flow was $383 million; adjusted earnings were $155 million to $152.3 million ($0.18/share).
Free cash flow from operations totaled $169 million; net debt at quarter-end was $108 million.
Gross profit rose to $347.7 million, and all-in sustaining costs (AISC) per pound for Q3 ranged from $1.58 to $4.96 across segments.
Dividend declared for the 38th consecutive quarter; 12.6 million shares repurchased YTD for $104 million.
Outlook and guidance
Full-year copper production guidance raised to 319,000–337,000 tonnes, with the midpoint up by 11,500 tonnes.
Consolidated copper cash cost guidance lowered to $1.85–$2.00/lb, reflecting improved performance.
Capital expenditure guidance for the year reduced by $45 million to $750 million; exploration expenditure guidance remains at $40 million.
Tightened production and cost guidance for Candelaria, Caserones, and Eagle.
Expect working capital build to unwind in Q4, boosting cash flow.
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