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Chile Storms Hit Lundin Mining Copper Output
19 Aug
Summary
- Lundin Mining reduced copper output guidance for Caserones mine.
- Second winter storm caused power outages and transmission damage.
- Forecasts for 2026 copper production and cash costs also lowered.
Lundin Mining has adjusted its production forecasts for the Caserones copper mine in Chile, citing impacts from unprecedented winter storms in the Atacama region. The company has revised its 2026 copper production guidance to 120,000 to 130,000 tonnes, a decrease from the previous 130,000 to 140,000 tonnes estimate. Cash costs are now anticipated to be between $2.15 to $2.35 per pound of copper, an increase from earlier projections.
These adjustments follow a second winter storm that recently caused a power outage at the Caserones mine. Severe winds and heavy snowfall led to the re-damage of a transmission tower, exacerbating issues from a prior outage in late July. The company has also lowered its consolidated copper production forecast for 2026 to 300,000 to 325,000 tonnes, with cash costs expected to rise to $1.95 to $2.15 per pound.
