Canada’s Lundin Mining targets expansions in Brazil, Chile

Published: 2025-06-20 02:05:17 ET LUN.TO

Published on 06/20/2025 at 02:05

Canada's Lundin Mining has unveiled a strategic growth plan to join the world's top ten copper producers within three to five years, Mining.com reported.

The Vancouver-based miner aims for annual output of 500,000 tonnes of copper and approximately 550,000 ounces of gold through brownfield expansions at core assets in Chile and Brazil, plus new developments across the Chile-Argentina border.

'Lundin Mining is entering an exciting new growth phase, underpinned by a clear path to increase copper production through low-cost brownfield expansions,' CEO Jack Lundin told investors this week.

The strategy focuses on expanding Candelaria and Caserones in Chile, alongside Chapada in Brazil.

Several low capital intensity projects are expected to boost annual copper production by 30,000 to 40,000 tonnes in the medium term.

At Candelaria, a revised underground expansion could raise throughput capacity by up to 60%, potentially adding 14,000 tonnes of copper annually.

Operational upgrades at Caserones could deliver an extra 7,000 to 10,000 tonnes yearly.

In Brazil, Chapada's Saúva satellite deposit is projected to produce 15,000 to 20,000 tonnes of copper and up to 60,000 ounces of gold per year, with a prefeasibility study expected by end-2025.

Beyond near-term expansions, Lundin is advancing the Vicuña project, a 50:50 joint venture with BHP encompassing deposits in Chile and Argentina. A combined development study is expected to conclude by first quarter 2026.