Lundin Mining Corporation
Sector unknown·LUMI · Nasdaq Stockholm·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Copper
Raw materials and inputs
DriverPositive impact: strengthens
“Gross Profit and Net Earnings Gross profit in the year increased from the prior year comparable period primarily due to higher realized copper and gold prices, higher sales volumes, and favourable foreign exchange.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Production Copper production in the quarter and year was lower than in the prior year comparable periods primarily due to lower grades and throughput. Annual copper production was within the most recently disclosed production guidance range.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Gross profit for the year was higher than in the prior year comparable period primarily due to higher realized zinc and copper prices, lower treatment and refining charges and higher zinc and lead sales volume.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Cash provided by operating activities related to continuing operations during the year was $473.6 million higher than in the prior year primarily due to higher sales volumes combined with favourable realized copper and gold prices, including the impacts of upward provisional pricing adjustments on prior year concentrate sales on an annual basis.”
Annual report 2024A · The company itself
DriverMixed impact: mixed
“Commodity prices, primarily copper, zinc, gold and nickel are key performance drivers and fluctuations in the prices of these commodities can have a dramatic effect on the results of operations. Prices can fluctuate widely and are affected by numerous factors beyond the Company’s control. The prices of metals are influenced by supply and demand, exchange rates, interest rates and interest rate expectations, inflation or deflation and expectations with respect to inflation or deflation, speculative activities, changes in global economies, and geopolitical, social and other factors.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“If market prices for metals fall below the Company’s full production costs and remain at such levels for any sustained period of time, the Company may experience losses and may decide to discontinue mining operations or development of a project at one or more of its properties. If the prices drop significantly, the economic prospects of the mines and projects in which 50 the Company has an interest could be significantly reduced or rendered uneconomic, in which case the Company may need to restate its Mineral Resource and Mineral Reserve estimates.”
Annual report 2024A · The company itself
Market
“About Lundin Mining Lundin Mining Corporation (“Lundin Mining” or the “Company”) is a diversified Canadian base metals mining company with projects or operations focused in the Americas and primarily producing copper, gold and nickel.”
Annual report 2024A · The company itself
Market
“Revenue in 2024 benefited from increased realized copper and gold prices, combined with record production of 369,067 tonnes of copper, record production of 191,704 tonnes of zinc, and 158 thousand ounces ("koz") of gold, which achieved the Company's most recently disclosed annual guidance for these metals.”
Annual report 2024A · The company itself
Market
“Operational Performance Candelaria (80% owned): Candelaria produced, on a 100% basis, 162,487 tonnes of copper, approximately 93,000 ounces of gold and 2.0 million ounces of silver during the year.”
Annual report 2024A · The company itself
Market
“Caserones (70% owned): Caserones produced, on a 100% basis, 124,761 tonnes of copper and 3,183 tonnes of molybdenum, both within the most recently disclosed 2024 annual production guidance ranges.”
Annual report 2024A · The company itself
Market
“Chapada (100% owned): Chapada produced 43,261 tonnes of copper and approximately 65,000 ounces of gold during the year, both metals were within the most recently disclosed 2024 production guidance ranges.”
Annual report 2024A · The company itself
Market
“Neves-Corvo (100% owned): Neves-Corvo produced 28,228 tonnes of copper and a record 109,571 tonnes of zinc during the year.”
Annual report 2024A · The company itself
Market
“Caserones (Chile) Caserones is an open pit copper-molybdenum mine which produces high-quality copper concentrate, copper cathode and molybdenum concentrate. Lundin Mining is the operator after acquiring a 51% interest in Minera Lumina Copper Chile on July 13, 2023, with JX Metals Corporation holding the remaining 49% interest. In July 2024, Lundin Mining increased its ownership to 70%, with JX Metals Corporation holding the remaining 30% interest.”
Annual report 2024A · The company itself
Market
“The processing plant has a capacity of 24.0 mtpa, producing high-quality gold-rich copper concentrate. The primary metal is copper, with gold and silver as by-product metals.”
Annual report 2024A · The company itself
Market
“The plant has a processing capacity of 0.7 mtpa, producing nickel and copper in concentrates.”
Annual report 2024A · The company itself
Market
“Neves-Corvo (Portugal) Neves-Corvo is located 200 km southeast of Lisbon, Portugal, in the western part of the Iberian Pyrite Belt and consists of an underground mine and on-site processing facilities. The copper plant has a processing capacity of up to 2.8 mtpa, producing copper in concentrate, and the zinc plant has an expanded capacity of 2.5 mtpa producing zinc and lead concentrates. The primary metal is copper, with zinc, lead and silver as by-product metals.”
Annual report 2024A · The company itself
Market
“Products are zinc, lead and copper concentrates.”
Annual report 2024A · The company itself
Chains in: Electrification strengthens, Data centres strengthens
Chains out: this strengthens Mining
Rare earths and critical raw materials
Raw materials and inputs
DriverPositive impact: strengthens
“Zinc production for the year was an annual record for the operation primarily due to record throughput as a result of the zinc expansion project, although slightly below the most recently disclosed annual production guidance range.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Gross Profit Gross profit for the quarter was higher than in the prior year comparable period primarily due to higher realized zinc prices, lower treatment and refining charges and lower production costs. Gross profit for the year was higher than in the prior year comparable period primarily due to higher realized zinc and copper prices, lower treatment and refining charges and higher zinc and lead sales volume.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“If market prices for metals fall below the Company’s full production costs and remain at such levels for any sustained period of time, the Company may experience losses and may decide to discontinue mining operations or development of a project at one or more of its properties. If the prices drop significantly, the economic prospects of the mines and projects in which 50 the Company has an interest could be significantly reduced or rendered uneconomic, in which case the Company may need to restate its Mineral Resource and Mineral Reserve estimates.”
Annual report 2024A · The company itself
Market
“Revenue in 2024 benefited from increased realized copper and gold prices, combined with record production of 369,067 tonnes of copper, record production of 191,704 tonnes of zinc, and 158 thousand ounces ("koz") of gold, which achieved the Company's most recently disclosed annual guidance for these metals.”
Annual report 2024A · The company itself
Market
“Eagle (100% owned): Eagle produced 7,486 tonnes of nickel and 6,366 tonnes of copper during the year.”
Annual report 2024A · The company itself
Market
“Caserones (Chile) Caserones is an open pit copper-molybdenum mine which produces high-quality copper concentrate, copper cathode and molybdenum concentrate.”
Annual report 2024A · The company itself
Market
“Eagle (USA) The Eagle mine consists of the Eagle underground mine, located approximately 53 km northwest of Marquette, Michigan, U.S.A. and the Humboldt mill, located 61 km west of Marquette. The plant has a processing capacity of 0.7 mtpa, producing nickel and copper in concentrates. The primary metal is nickel with copper, and minor amounts of cobalt, gold, and platinum-group metals as by-product metals.”
Annual report 2024A · The company itself
Market
“The primary metal is copper, with zinc, lead and silver as by-product metals.”
Annual report 2024A · The company itself
Market
“These charges are recorded in net earnings (loss) from discontinued operations 32 Zinkgruvan (Sweden) The Zinkgruvan mine consists of an underground mine and on-site processing facilities, located approximately 200 km southwest of Stockholm, Sweden. The plant has processing capacity of 1.6 mtpa. Products are zinc, lead and copper concentrates. The primary metal is zinc, with lead, silver and copper as by-products.”
Annual report 2024A · The company itself
Chains in: Wind power strengthens
Precious metals
Raw materials and inputs
DriverPositive impact: strengthens
“Gross Profit and Net Earnings Gross profit in the year increased from the prior year comparable period primarily due to higher realized copper and gold prices, higher sales volumes, and favourable foreign exchange.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Higher gold grades were generated from fresh ore from the South and Central pits replacing planned feed from the older low-grade stockpile in order to prioritize gold production in light of the recent elevated gold price environment.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Cash cost per pound in the quarter and year improved significantly from the prior year comparable periods primarily due to higher by-product credits as a result of increased realized prices for gold as well as favourable foreign exchange.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Cash provided by operating activities related to continuing operations during the year was $473.6 million higher than in the prior year primarily due to higher sales volumes combined with favourable realized copper and gold prices, including the impacts of upward provisional pricing adjustments on prior year concentrate sales on an annual basis.”
Annual report 2024A · The company itself
Market
“About Lundin Mining Lundin Mining Corporation (“Lundin Mining” or the “Company”) is a diversified Canadian base metals mining company with projects or operations focused in the Americas and primarily producing copper, gold and nickel.”
Annual report 2024A · The company itself
Market
“Revenue in 2024 benefited from increased realized copper and gold prices, combined with record production of 369,067 tonnes of copper, record production of 191,704 tonnes of zinc, and 158 thousand ounces ("koz") of gold, which achieved the Company's most recently disclosed annual guidance for these metals.”
Annual report 2024A · The company itself
Market
“Chapada (100% owned): Chapada produced 43,261 tonnes of copper and approximately 65,000 ounces of gold during the year, both metals were within the most recently disclosed 2024 production guidance ranges.”
Annual report 2024A · The company itself
Market
“The primary metal is copper, with gold and silver as by-product metals.”
Annual report 2024A · The company itself
Asia and emerging markets
Geography
Market
“Candelaria (Chile) The Candelaria operations consist of an open pit and underground mines providing copper ore to two on-site processing plants located near Copiapó in the Atacama region of Chile, as well as a port facility and desalination plant located approximately 100km from the mine facilities in the town of Caldera.”
Annual report 2024A · The company itself
Business cycle and GDP growth
Macro
StrategyPositive impact: strengthens
“This 27 decrease was combined with lower mining costs as a result of a planned reduction in waste movement, and other cost reduction initiatives as a result of the Chapada Full Potential program, which started in 2022 and focuses on various site optimization activities.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
China
Geography
Market
“Candelaria (Chile) The Candelaria operations consist of an open pit and underground mines providing copper ore to two on-site processing plants located near Copiapó in the Atacama region of Chile, as well as a port facility and desalination plant located approximately 100km from the mine facilities in the town of Caldera.”
Annual report 2024A · The company itself
Mining
End markets
Market
“About Lundin Mining Lundin Mining Corporation (“Lundin Mining” or the “Company”) is a diversified Canadian base metals mining company with projects or operations focused in the Americas and primarily producing copper, gold and nickel.”
Annual report 2024A · The company itself
Chains in: Copper strengthens
Steel
Raw materials and inputs
Market
“Zinkgruvan (100% owned): Record zinc production of 82,133 tonnes and lead production of 30,888 tonnes during the year were driven by higher throughput, grades and recoveries.”
Annual report 2024A · The company itself
Chains in: Wind power strengthens
Labour and wages
Raw materials and inputs
DriverNegative impact: weakens
“Production during the year was impacted by labour action in August which reduced throughput to approximately 50% capacity over a 14-day period.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Production was also negatively impacted by the labour action in August which lasted 14 days and reduced throughput during this period to approximately 50% capacity.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Production Costs and Cash Cost Production costs in the quarter and year were lower than in the prior year comparable periods primarily due to decreases in zinc and copper sales volumes partially offset by higher electricity and labour costs.”
Annual report 2024A · The company itself
Currency exposure
Macro
DriverPositive impact: strengthens
“Gross Profit and Net Earnings Gross profit in the year increased from the prior year comparable period primarily due to higher realized copper and gold prices, higher sales volumes, and favourable foreign exchange.”
Annual report 2024A · The company itself
DriverMixed impact: mixed
“The prices of metals are influenced by supply and demand, exchange rates, interest rates and interest rate expectations, inflation or deflation and expectations with respect to inflation or deflation, speculative activities, changes in global economies, and geopolitical, social and other factors.”
Annual report 2024A · The company itself
Electricity
Raw materials and inputs
InputNegative impact: weakens
“Production Costs and Cash Cost Production costs in the quarter and year were lower than in the prior year comparable periods primarily due to decreases in zinc and copper sales volumes partially offset by higher electricity and labour costs.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“This decrease was mainly due to lower copper and zinc sales volume and higher unit production costs primarily driven by higher electricity and labour costs.”
Annual report 2024A · The company itself
Chains in: Data centres strengthens, Electrification strengthens
Chains out: this strengthens Power grid expansion
USD vs DKK/EUR
Macro
DriverPositive impact: strengthens
“Production costs during the year also benefited from a weakening of the BRL against the USD.”
Annual report 2024A · The company itself
DriverMixed impact: mixed
“2025 cash costs are based on various assumptions and estimates, including but not limited to: production volumes, commodity prices (Cu: $4.40/lb, Au: $2,500/oz, Mo: $17.00/lb, Ag: $30.00/oz), foreign exchange rates (USD/CLP:900, USD/BRL:5.50) and operating costs.”
Annual report 2024A · The company itself
Chains out: this mixed effect United States
Geopolitical uncertainty
Macro
DriverMixed impact: mixed
“The prices of metals are influenced by supply and demand, exchange rates, interest rates and interest rate expectations, inflation or deflation and expectations with respect to inflation or deflation, speculative activities, changes in global economies, and geopolitical, social and other factors.”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Inflation
Macro
DriverMixed impact: mixed
“The prices of metals are influenced by supply and demand, exchange rates, interest rates and interest rate expectations, inflation or deflation and expectations with respect to inflation or deflation, speculative activities, changes in global economies, and geopolitical, social and other factors.”
Annual report 2024A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Interest rates
Macro
DriverMixed impact: mixed
“The prices of metals are influenced by supply and demand, exchange rates, interest rates and interest rate expectations, inflation or deflation and expectations with respect to inflation or deflation, speculative activities, changes in global economies, and geopolitical, social and other factors.”
Annual report 2024A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
Latin America
Geography
Geography
“About Lundin Mining Lundin Mining Corporation (“Lundin Mining” or the “Company”) is a diversified Canadian base metals mining company with projects or operations focused in the Americas and primarily producing copper, gold and nickel.”
Annual report 2024A · The company itself
Geography
“Operational Performance Candelaria (80% owned): Candelaria produced, on a 100% basis, 162,487 tonnes of copper, approximately 93,000 ounces of gold and 2.0 million ounces of silver during the year.”
Annual report 2024A · The company itself
Geography
“Caserones (70% owned): Caserones produced, on a 100% basis, 124,761 tonnes of copper and 3,183 tonnes of molybdenum, both within the most recently disclosed 2024 annual production guidance ranges.”
Annual report 2024A · The company itself
Geography
“Chapada (100% owned): Chapada produced 43,261 tonnes of copper and approximately 65,000 ounces of gold during the year, both metals were within the most recently disclosed 2024 production guidance ranges.”
Annual report 2024A · The company itself
Geography
“Eagle (100% owned): Eagle produced 7,486 tonnes of nickel and 6,366 tonnes of copper during the year.”
Annual report 2024A · The company itself
Europe
Geography
Geography
“Neves-Corvo (100% owned): Neves-Corvo produced 28,228 tonnes of copper and a record 109,571 tonnes of zinc during the year.”
Annual report 2024A · The company itself
Geography
“Zinkgruvan (100% owned): Record zinc production of 82,133 tonnes and lead production of 30,888 tonnes during the year were driven by higher throughput, grades and recoveries.”
Annual report 2024A · The company itself
Denmark
Geography
Geography
“Candelaria (Chile) The Candelaria operations consist of an open pit and underground mines providing copper ore to two on-site processing plants located near Copiapó in the Atacama region of Chile, as well as a port facility and desalination plant located approximately 100km from the mine facilities in the town of Caldera.”
Annual report 2024A · The company itself
United States
Geography
Geography
“About Lundin Mining Lundin Mining Corporation (“Lundin Mining” or the “Company”) is a diversified Canadian base metals mining company with projects or operations focused in the Americas and primarily producing copper, gold and nickel.”
Annual report 2024A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 3.42 bn USD |
| Revenue growth vs. the year before, same method | 24.8 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | -0.26 USD |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✗ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (USD), not converted to DKK. Quotes are shown as the company's own words in the report's original language.