Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canada-based Lundin Mining’s production of copper in 2019 rose by 18pc, zinc remained flat and nickel declined by 23pc from 2018. The company also met its 2019 production guidance at all operations.


Lundin produced 235,498mt of copper in 2019, up from 199,630mt in 2018. Zinc production was at 151,515mt from 152,041mt in the year prior and nickel production fell by 23pc to 13,494mt from 17,573mt in 2018.


In the December quarter, the company produced 67,131mt of copper, up by 39pc from the prior year. Zinc production fell by 7pc to 38,925mt and nickel production fell by 24pc to 2,651mt, from 3,501mt in the prior quarter. 

Mined Production20192018Pc ChangeQ4 2019Q4 2018Pc Change
Copper235,498199,630     18%67,13148,206     39%
Zinc151,515152,041      0%38,92542,024     -7%
Nickel13,49417,573    -23%2,6513,501    -24%

Lundin owned Candelaria copper mine’s production increased by 9pc in 2019, contributing the copper production growth and is positioned to deliver a further 16pc increase in 2020, according to the company. The Candelaria Mill Optimization Project remained on-track and is likely to be completed in the first quarter of 2020.

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