Lundin forecasts 2021 copper production to jump 25%

The Chilean Candelaria copper-gold mine is 80% owned by Lundin Mining. (Credit: Consejo Minero)

Lundin Mining Corp on Monday forecast higher copper production for fiscal year 2021, mainly driven by better grades at Candelaria in Chile and uninterrupted full-year contribution from Brazilian mines of Candelaria and Chapada.

The outlook comes shortly after a collective agreement was made with all unions representing employees at the Candelaria mine who went on strike and suspended operations in October.

Lundin revised 2020 outlook for Candelaria operations, and now expects production to come between 120,000 tonnes and 125,000 tonnes, compared with previous forecast of 160,000 tonnes and 175,000 tonnes.

The Canadian miner sees 2021 copper production to increase 25% to between 275,000 tonnes and 299,000 tonnes, and added that zinc production will increase 30% in 2022 as the Neves-Corvo Zinc Expansion Project in Portugal could complete its ramp-up in the first half of that year.

(By Arunima Kumar; Editing by Sherry Jacob-Phillips)

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