The following is a summary of the Lundin Mining Corporation (LUNMF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Lundin Mining reported $1.1 billion in revenue for Q3 2024, maintaining a consistent performance across the year.

• Adjusted EBITDA for the quarter amounted to $458 million.

• Copper production reached 100,000 tons, with Candelaria's record production of 50,000 tons due to higher head grades.

• The company declared a consecutive quarterly dividend, marking the 31st payout in a row.

Business Progress:

• Lundin acquired an additional 19% stake in Caserones, increasing its ownership to 70% and adding valuable copper tons to its production profile.

• The joint venture with BHP to develop the Vicuña District, including the Filo del Sol and Josemaria Project, significantly strengthens Lundin's position as a top-tier copper producer.

• Asset optimization efforts at Chapada and Candelaria have enhanced operational efficiencies and reduced costs.

• Exploration efforts continue, particularly near mine operations and potential high-grade copper zones.

Opportunities:

• The formation of a new JV with BHP and planned acquisitions will bolster Lundin Mining's growth in the copper segment, creating opportunities for large-scale development and production enhancements.

Risks:

• The temporary lower recoveries at Caserones due to hydrogeologic conditions and mine sequence changes.

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