en.Wedoany.com Reported - Lundin Mining Corporation announced its financial and operational results for the first quarter of 2026, achieving total revenue of $1.1588 billion, a year-over-year increase of approximately 26%, with copper contributing 84% of the revenue. Operating free cash flow was $379.7 million, and the net cash position at quarter-end was approximately $250 million. Chairman and CEO Jack Lundin stated: "Copper production was approximately 80,000 tonnes at a consolidated cash cost of $1.66 per pound, which enabled our operations to generate $1.159 billion in revenue and $380 million in operating free cash flow, boosting our net cash position to $250 million."

In Argentina, the company advanced the Vicuña project located in San Juan. A technical study released in February showed that the project has the potential to become a major global copper-gold mine, with expected peak annual production exceeding 500,000 tonnes of copper and 800,000 ounces of gold. The CEO noted: "The study underscores its potential as a Tier 1 asset and one of the top five copper, gold, and silver mines globally, with maximum annual copper production exceeding 500,000 tonnes and maximum annual gold production exceeding 800,000 ounces. This is an important milestone on our path toward an approval decision this year." The project has applied for inclusion in the Large Investment Incentive Regime (RIGI), targeting a final investment decision by the end of 2026.

In Chile, Lundin Mining completed the acquisition of an additional 5% interest in the Caserones copper mine on April 7, increasing its ownership to 75%; simultaneously, it acquired a 30.9% interest in the Los Helados project for a total consideration of $215 million. Caserones contributed revenue of $506.3 million this quarter, with copper production of 38,552 tonnes. Jack Lundin stated: "We also advanced key growth initiatives, including increasing our ownership in Caserones by 5%, which adds to our attributable copper production at an attractive acquisition cost. Concurrently, we acquired a 31% interest in the Los Helados project, which is adjacent to our operating Caserones mine."

The company completed the sale of the Eagle mine, focusing on its copper business, with approximately 85% of revenue now coming from copper. Full-year 2026 copper production is expected to be between 310,000 and 335,000 tonnes, with gold production between 134,000 and 149,000 ounces. Lundin Mining management indicated that the advancement of the Vicuña project will be a key focus for 2026.

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