en.Wedoany.com Reported - Canadian mining company Lundin Mining announced that it has reduced its share capital as part of its share repurchase program. As of the end of June 2026, the company had executed buybacks totaling $96 million, purchasing 3,650,094 common shares, having previously committed to spending up to $150 million annually for this purpose. To date, the number of outstanding shares has decreased by 1,646,340, leaving a total of 853,732,567 voting shares remaining.

In terms of copper business expansion, the company is strengthening its position in the copper market, particularly in Chile, where it operates core assets such as Candelaria and Caserones. Located near Copiapó, Candelaria is considered its largest operation, with Lundin Mining holding an 80% stake. In July this year, the company completed the acquisition of an additional 5% stake in the Caserones operation, increasing its ownership to 75%. This acquisition is part of Lundin Mining's strategy to become one of the top ten global copper producers, aiming to capture growth demand driven by electrification and the energy transition.

The company also detailed its operations in the Distrito Vicuña, one of the world's most significant copper, gold, and silver projects, contributing to its production growth strategy. Converting these assets into a robust production line is crucial at a time when global markets demand increased supply of this metal, widely used in technology and infrastructure.

The share buyback decision has multiple implications. A reduction in outstanding shares may help enhance the value of remaining shares and improve market perception. At the same time, this move demonstrates the company's confidence in its future performance and financial stability, which is particularly important in a market environment where investment in base metals faces uncertainty.

Looking ahead, Lundin Mining plans to continue expanding in southern South America, especially in Chile and Argentina, two countries with significant mineral resource potential. Company executives have clearly stated their intention to pursue further acquisitions to complement the existing portfolio and ramp up production capacity to strategic levels in the coming years. Through these initiatives, the company aims to increase its market share and strengthen its commitment to more sustainable mining for all stakeholders.