Northwire Canada EditionFriday, October 16, 2026
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GOLD 4170.10 +1.5% SILVER 57.16 +2.3% COPPER 6.56 −1.5% OIL 97.97 +3.0% PALLADIUM 1136.00 +3.6% LUN 32.91 +0.6% DLP 0.290 −3.3% VCV 0.065 −13.3% GG 2.89 +1.4% NBLC 0.015 +0.0% SF 0.300 −4.8% ATY 0.215 +2.4% GHL 0.060 −7.7% STND 0.060 −7.7% B 0.550 −3.5% HBM 34.33 −0.5% NTR 98.77 −0.7% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.175 −18.6% CLCH 1.08 −1.8% GOLD 4170.10 +1.5% SILVER 57.16 +2.3% COPPER 6.56 −1.5% OIL 97.97 +3.0% PALLADIUM 1136.00 +3.6% LUN 32.91 +0.6% DLP 0.290 −3.3% VCV 0.065 −13.3% GG 2.89 +1.4% NBLC 0.015 +0.0% SF 0.300 −4.8% ATY 0.215 +2.4% GHL 0.060 −7.7% STND 0.060 −7.7% B 0.550 −3.5% HBM 34.33 −0.5% NTR 98.77 −0.7% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.175 −18.6% CLCH 1.08 −1.8%
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Lundbeck announces headline results from Phase IV THRIVE trial evaluating VYEPTI(TM) (eptinezumab) following inadequate response to prior CGRP-targeting preventive therapy

Lundin’s Caserones production guidance was lowered by storm damage, while the Vicuña project remains a key catalyst for future growth.

By The Northwire Desk — AI Analysis Oct 01, 2026 · 02:17 LUN · 33.93 Lundin Mining Corporation
Executive Summary

Lundin Mining Corporation issued an operational update on August 19, 2026, following a second severe winter storm in Chile's Atacama region. The storm caused a second power outage at the Caserones mine, redamaging a transmission tower and delaying recovery efforts from the July outage. Management attributed the disruption to an "unprecedented series of winter storms" and emphasized safety and gradual restoration. Full power restoration is expected by the end of the week, followed by a gradual ramp-up.

The company revised its full-year 2026 guidance for Caserones:

  • Copper production lowered to 120,000–130,000 tonnes (from 130,000–140,000 tonnes)
  • Cash costs raised to $2.15–$2.35/lb (from $2.05–$2.25/lb)

Consolidated copper production guidance was lowered to 300,000–325,000 tonnes (from 310,000–335,000 tonnes). Consolidated cash cost guidance was raised to $1.95–$2.15/lb (from $1.90–$2.10/lb). Candelaria and Chapada guidance remain unchanged.

Material Impact

Lundin Mining Corporation issued a guidance cut driven by a temporary, external weather event rather than structural cost creep or operational mismanagement. The market’s reaction saw the stock decline approximately 3% from the August 5 earnings release to August 19, reflecting a priced-in, non-structural miss. The company’s long-term growth thesis, including the Vicuña project and brownfield expansions, along with its financial position, remain intact. There is no change to the company's strategic trajectory or capital allocation policy.

LUN · Price
Company Overview

Lundin Mining Corporation (LUN) is a pure-play copper producer following the divestiture of Eagle, Neves-Corvo, and Zinkgruvan. Its flagship assets include Candelaria in Chile, where it holds 80% ownership, Caserones in Chile with 75% ownership, and Chapada in Brazil, which it owns 100%. The company also holds a development project, the Vicuña Project, which is a 50% joint venture with BHP located in Argentina and Chile, targeting more than 500kt of annual copper production. Additionally, Lundin Mining maintains strategic optionality through a 31% interest in the Los Helados Project, comprising a 30.9% equity stake and a 0.62% NSR royalty.

Read the original news release →

More from Lundin Mining Corporation

Oct 15, 2026 · 17:30

Lundin reported a $66m storm standby cost hit to q3 earnings, partially offset by a $51m pricing gain.

Earnings Sep 15, 2026 · 03:26

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

Production / Operations 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