Lundin Mining Sees Record Copper Prices Boost Second-Quarter Results
Lundin Mining Corp, a Canadian mining company listed on the Toronto Stock Exchange as LUN, has reported strong financial performance in its second quarter earnings call. The company's revenue reached approximately $1.2 billion, with adjusted EBITDA of $658 million and free cash flow from operations of $360 million.
The surge in copper prices played a significant role in the company's results, with Lundin Mining realizing a record copper price of $6.51 per pound in Q2 2026, a 48% increase from the previous year. Copper contributed about 88% to revenue, amplifying earnings leverage and offsetting emerging cost headwinds across the portfolio.
The company's production remained steady, with consolidated copper production at approximately 76.9 kilotons in Q2 and 107 kilotons year-to-date. Lundin Mining reiterated its guidance for 2026, targeting 310-335 kilotons of copper and 134-149 thousand ounces of gold.