On Thursday, June 19, Lundin Mining, a Canadian mining company, unveiled a strategic growth plan aimed at propelling the company into the top 10 global copper producers.
The company stated that it plans to achieve annual production of 500,000 mt of copper and 550,000 ounces of gold within three to five years.
The strategy focuses on the expansion of its core assets in Candelaria and Caserones, Chile, as well as the Caserones project in Brazil.
CEO Jack Lundin said, "The company is entering an exciting new growth phase, thanks to a clear path to increasing copper production through low-cost project expansions."
The company is advancing several low-capital-intensity projects, which are expected to increase annual production by 30,000-40,000 mt in the medium term.
BMO analyst Matthew Murphy commented, "Under the base case scenario over five years, the company will generate nearly $2 billion in free cash flow with relatively stable production. With low capital intensity, there are additional organic growth options that could further increase copper production by 10%."
Operational upgrades at the Caserones project in Brazil, including improved leaching practices and the use of additional oxide ore, could deliver an extra 7,000-10,000 mt of copper annually.
