OTTAWA (dpa-AFX) - Lundin Mining Corp. (LUN.TO, LUNMF, LNDMY), a Canadian mining company, on Wednesday reported higher second-quarter net income and revenue compared with the previous year and maintained its full-year 2026 consolidated production guidance despite severe winter storms affecting its Caserones mine in Chile.
For the second quarter, net earnings from continuing operations attributable to the company's shareholders increased to $278.4 million from $115.7 million in the previous year.
Earnings per share were $0.32 versus $0.13 last year.
On an adjusted basis, net earnings jumped to $256.7 million from $87.8 million in the previous year.
Adjusted earnings per share were $0.30 versus $0.10 last year.
EBITDA increased to $680.6 million from $390.9 million in the previous year.
Adjusted EBITDA came in higher at $658 million from $376.5 million in the prior year.
Revenue increased to $1.21 billion from $878.2 million in the same period a year ago.
Looking ahead, the company expects full year 2026 consolidated copper production of 310,000-335,000 tonnes, gold production of 134,000-149,000 ounces.
Following severe winter storms in Chile, the company now expects Caserones' annual copper production to be in the lower half of its 130,000-140,000-tonne guidance range.
However, the company still expects overall consolidated copper and gold production to remain within its full-year guidance ranges.
The company also said Chapada's cash cost guidance was reduced due to higher realized gold prices, while expansionary capital expenditure guidance was increased by $35 million to support the initial stages of the Saúva project in Brazil.
Lundin Mining is currently trading 2.84% higher at C$38.77 on the Toronto Stock Exchange.
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