Canadian miner Lundin Mining has announced production results for the 2022 and provides production guidance for the three-year period of 2023 through 2025, as well as cash cost, capital and exploration expenditure forecasts for 2023. 2022 Production HighlightsGuidance was substantially achieved on a consolidated basis for copper, nickel, and gold. Nickel and gold production achieved the top end of the guidance ranges. 2022 consolidated copper production was approximately 250,000 tonnes, and total copper-equivalent consolidated production was over 390,000 tonnes. Candelaria copper production of 152,042 tonnes was modestly below guidance, while gold production of 86,000 oz achieved the top end of the guidance range. Chapada copper production of 45,739 tonnes achieved guidance and gold production of 68,000 oz exceeded the top end of the guidance range. Eagle nickel production of 17,475 tonnes and copper production of 15,895 tonnes both achieved guidance.Three-Year Production OutlookCopper production is forecast to be 236,000-260,000 tonnes on a consolidated basis in 2023. Higher consolidated copper production of 256,000-280,000 tonnes is forecast for 2024 due mainly to mine sequencing and the planned copper grade profile at Candelaria.Zinc production is forecast to increase to 180,000-195,000 tonnes on a consolidated basis in 2023, increasing further over the three-year period to reach 225,000-240,000 tonnes in 2025. The increasing zinc production profile is primarily due to the ramp up of the Neves-Corvo Zinc Expansion Project, which is expected to consistently achieve nameplate capacity during 2024.Consolidated gold production is forecast to be 140,000-150,000 oz in 2023 and to be relatively constant through the three-year outlook period. Nickel production is to be 13,000-16,000 tonnes in 2023 and to moderate over the three-year period driven by the planned mine sequencing and nickel grade as the Eagle East and Upper Keel orebodies at Eagle are mined.
Canadian miner Lundin Mining has announced production results for the 2022 and provides production guidance for the three-year period of 2023 through 2025, as well as cash cost, capital and exploration expenditure forecasts for 2023. 2022 Production HighlightsGuidance was substantially achieved on a consolidated basis for copper, nickel, and gold. Nickel and gold production achieved the top end of the guidance ranges. 2022 consolidated copper production was approximately 250,000 tonnes, and total copper-equivalent consolidated production was over 390,000 tonnes. Candelaria copper production of 152,042 tonnes was modestly below guidance, while gold production of 86,000 oz achieved the top end of the guidance range. Chapada copper production of 45,739 tonnes achieved guidance and gold production of 68,000 oz exceeded the top end of the guidance range. Eagle nickel production of 17,475 tonnes and copper production of 15,895 tonnes both achieved guidance.Three-Year Production OutlookCopper production is forecast to be 236,000-260,000 tonnes on a consolidated basis in 2023. Higher consolidated copper production of 256,000-280,000 tonnes is forecast for 2024 due mainly to mine sequencing and the planned copper grade profile at Candelaria.Zinc production is forecast to increase to 180,000-195,000 tonnes on a consolidated basis in 2023, increasing further over the three-year period to reach 225,000-240,000 tonnes in 2025. The increasing zinc production profile is primarily due to the ramp up of the Neves-Corvo Zinc Expansion Project, which is expected to consistently achieve nameplate capacity during 2024.Consolidated gold production is forecast to be 140,000-150,000 oz in 2023 and to be relatively constant through the three-year outlook period. Nickel production is to be 13,000-16,000 tonnes in 2023 and to moderate over the three-year period driven by the planned mine sequencing and nickel grade as the Eagle East and Upper Keel orebodies at Eagle are mined.
