Company Overview

Lundin Mining Corporation is a diversified base metals mining company engaged in the exploration, development, and operation of mineral properties. The company primarily produces copper, zinc, nickel, and lead, with by-products including gold and silver, serving global industrial and commodity markets. Its revenue is largely driven by metal production and sales tied to global commodity prices, with customers consisting mainly of international smelters and refiners. Lundin Mining is recognized for operating long-life, low-cost assets and for its disciplined capital allocation strategy within the global mining sector.

The company was founded in 1994 by the Lundin family and has evolved through a series of acquisitions and asset developments to become a mid-tier global mining operator. Over time, Lundin Mining expanded its portfolio across the Americas and Europe, transitioning from a project-focused explorer into an established producer with multiple operating mines. Its strategic positioning emphasizes operational efficiency, jurisdictional diversification, and exposure to metals critical for electrification and infrastructure development.

Business Operations

Lundin Mining generates revenue through several core operating segments centered on individual mining assets. Key operations include the Candelaria Mining Complex in Chile (copper), Caserones in Chile (copper and molybdenum), Chapada Mine in Brazil (copper and gold), Eagle Mine in the United States (nickel and copper), Neves-Corvo Mine in Portugal (copper and zinc), and Zinkgruvan Mine in Sweden (zinc and lead). These assets collectively underpin the company’s cash flow and production profile, with copper representing the largest share of revenue.

The company operates through wholly owned subsidiaries and joint ownership structures, depending on the asset. Its business model emphasizes mine optimization, life-of-mine extensions, and brownfield exploration. Lundin Mining controls significant processing infrastructure, mineral reserves, and proprietary geological data, enabling operational flexibility and cost control across its portfolio.

Strategic Position & Investments

Strategically, Lundin Mining focuses on growing copper and other base metal exposure aligned with long-term demand from electrification, renewable energy, and electric vehicle markets. Growth initiatives include organic expansions at existing mines, targeted exploration programs, and selective acquisitions in stable mining jurisdictions. A notable strategic investment includes the acquisition of a controlling interest in Caserones, which strengthened the company’s copper portfolio and operational scale in Chile.

The company has also pursued portfolio optimization through asset divestments and capital recycling to maintain balance sheet strength. Lundin Mining’s strategy reflects a long-term approach centered on operational excellence, conservative leverage, and investment in assets with expansion potential rather than high-risk greenfield development.

Geographic Footprint

Lundin Mining maintains a diversified global footprint with operations spanning South America, North America, and Europe. Its corporate headquarters are located in Canada, while major producing assets are concentrated in Chile, Brazil, the United States, Portugal, and Sweden. This geographic diversity reduces exposure to single-jurisdiction risk and provides access to established mining regions with existing infrastructure.

Internationally, the company has a strong operational presence in Latin America, particularly in Chile, which is central to its copper production. European operations contribute significantly to zinc and copper output, while North American assets provide exposure to nickel and copper markets. Lundin Mining’s global reach supports stable production and resilience across commodity cycles.

Leadership & Governance

Lundin Mining is led by an experienced executive team with extensive backgrounds in global mining operations, finance, and capital markets. The company’s leadership philosophy emphasizes decentralized operational management, strong local engagement, and disciplined strategic oversight from the corporate level. Governance practices align with Canadian public company standards and emphasize transparency, sustainability, and shareholder value creation.

Key executives include:

• Jack Lundin – President and Chief Executive Officer
• Adam Lundin – Chair of the Board
• Marie Inkster – Chief Financial Officer
• Stephen Williams – Chief Operating Officer
• Josef Källström – Executive Vice President, Corporate Development
• Peter Richardson – Vice President, Exploration

The leadership team continues the Lundin Group’s long-standing approach of combining entrepreneurial decision-making with rigorous financial and operational discipline.