Lundin Mining lowers copper guidance as second storm hits Chilean operations

Lundin Mining has reduced its 2026 copper production forecast after a second severe winter storm struck its operations in Chile's Atacama region, further delaying recovery efforts following an earlier power outage. The Canadian miner has lowered full-year copper guidance for its Caserones mine to 120,000–130,000 tonnes, down from the previous range of 130,000–140,000 tonnes.

"Following the first storm, we anticipated that the production impact would remain within the lower end of our original guidance range," said CEO Jack Lundin in a statement. "Unfortunately, a second severe storm disrupted our recovery efforts and delayed the planned return to full operations, resulting in additional unplanned downtime."

The setbacks at Caserones have also weighed on Lundin's overall corporate outlook, with consolidated copper production guidance now reduced to 300,000–325,000 tonnes for the year.