Northwire Canada EditionTuesday, September 15, 2026
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GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8% GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8%
Production / Operations Routine −

Lundbeck announces last patient randomized in DEEp SEA, a Phase III trial of bexicaserin in Dravet syndrome

Lundin’s weather-driven delays at Caserones cut tests keep the Vicuña final investment decision as the primary catalyst for the project.

By The Northwire Desk — AI Analysis Sep 15, 2026 · 03:26 LUN · 32.43 Lundin Mining Corporation
Executive Summary

Lundin Mining Corporation issued an operational update on August 19, 2026, detailing the impact of severe winter storms on its Chilean assets. The company’s Caserones mine suffered a second power outage on August 14, following a storm on July 18 that had previously damaged a transmission tower. Severe winds and snowfall caused further damage to the infrastructure, delaying full power restoration. The company expects power to be fully restored by the end of the week, after which operations will begin a gradual ramp-up.

In response to the disruptions, Lundin Mining revised its 2026 full-year guidance. Caserones copper production is now projected at 120,000–130,000 tonnes, down from the previous range of 130,000–140,000 tonnes. Cash costs for the mine have been raised to $2.15–$2.35/lb, compared to the prior estimate of $2.05–$2.25/lb. Consolidated copper production guidance was lowered to 300,000–325,000 tonnes, from 310,000–335,000 tonnes, while consolidated cash costs were increased to $1.95–$2.15/lb, up from $1.90–$2.10/lb.

Guidance for the Candelaria and Chapada operations remains unchanged. CEO Jack Lundin attributed the extended downtime and recovery challenges to an "unprecedented series of winter storms."

Material Impact

Lundin Mining Corporation (LUN) issued a material guidance cut affecting near-term production and cost metrics, a decision driven by an external, non-recurring weather event rather than structural operational failures or grade declines. The company’s stock has declined approximately 27% from its February high of $44.41 to a September low of $32.43, a move that prices in weather risks, cost pressures, and broader copper market volatility. This reduction was expected and telegraphed following the July storm and the Q2 cost print.

Despite the cut, the company remains net cash, with Vicuña progress intact and Candelaria and Chapada on track.

LUN · Price
Company Overview

Lundin Mining Corporation (LUN) is a pure-play copper producer that retains gold and silver as byproducts following the sale of its Eagle Mine to Talon Metals. The company’s asset portfolio includes Candelaria in Chile, where it holds an 80% stake, and Caserones in Chile, with a 75% interest. In Brazil, Lundin owns 100% of the Chapada mine. Additionally, the company holds a 50% joint venture interest in the Vicuña project in Argentina and Chile, alongside BHP. Lundin is executing a strategic shift toward copper, establishing a clear path to annual production exceeding 500,000 tonnes.

Read the original news release →

More from Lundin Mining Corporation

Aug 19, 2026 · 02:00

Lundin trimmed its copper production guidance following a second storm, while maintaining the option to expand the Vicuña project.

Production / Operations Jul 27, 2026 · 02:00

Lundin’s Caserones outage extends to two to three weeks, shrinking the margin for error while maintaining its production guidance.

Production / Operations Jul 21, 2026 · 04:00

Lundin’s Chile winter storm temporarily halts Caserones operations while year guidance remains intact and the Vicuña project approaches final investment decision.

Production / Operations Jul 16, 2026 · 17:30

Lundin’s Vicuña project remains six months from production as provisional pricing offsets flat operational performance.

Earnings Jun 16, 2026 · 19:30

Lundin reaffirms 2026 guidance and raises long-term free cash flow outlook despite increased capital intensity from the Saúva mill sanction.

Production / Operations Jun 16, 2026 · 17:00

Lundin’s Vicuña project clears a key regulatory milestone, clearing the path to a final investment decision despite existing valuation pricing in near-term execution risks.

Regulatory