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

Canada-based Lundin Mining has lowered its annual production guidance ranges for all its mines. Neves-Corvo zinc production guidance was reduced as a result of the forecasted mill feed grades, while all other metals were tightened within the ranges previously established. 


In June, the company reduced its copper guidance for its Candelaria mine to 150,000mt – 155,000mt. Lundin’s total copper production in the second quarter of the year, down by 2.8pc to 63,457mt from 65,285mt in the prior-year period, according to the company’s Q2 report.


Zinc production in Q2 however, increased by 9.3pc to 34,833 from 31,582 in the same period of 2020. Nickel production rose 41pc to 4,774 from 3,380mt within the same time frame. Year-to-date copper and zinc production stood at 120,811mt and 68,198mt respectively while nickel output was 10,128mt in the same period.


Lundin’s total planned exploration expenditures of $40mn have remained unchanged since the previous guidance. The company’s main focus will be supporting in-mine and near-mine targets at sites and the balance will be used for advanced exploration.


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