TORONTO, Aug. 2, 2023 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) today reported net earnings attributable to Lundin Mining shareholders of $59.1 million ($0.08 per share) and $205.7 million ($0.27 per share) for the three and six months ended June 30, 2023, respectively. The Company also generated adjusted earnings1 of $16.0 million ($0.02 per share) and adjusted EBITDA1 of $162.2 million in the second quarter. Adjusted earnings were $141.7 million ($0.18 per share) and adjusted EBITDA were $499.1 million for the six months ended June 30, 2023. Adjusted operating cash flow1 were $110.6 million ($0.14 per share) and $345.7 million ($0.45 per share) for the three and six months ended June 30, 2023.

“Overall, we are pleased with the performance of our operations during the second quarter. We are currently tracking at the midpoint or higher for copper, gold and nickel guidance and the lower end for zinc. We generated adjusted EBITDA of over $160 million despite a decline in metal prices early in the second quarter and resulting provisional pricing adjustments. Lundin Mining’s earnings and cash-generation potential has further increased with the addition of Caserones which closed early in the third quarter. On a 100% proforma basis, including Caserones, Lundin Mining’s operations produced approximately 280,000 tonnes of copper-equivalent metal in the first half of this year. Caserones produced approximately 70,000 tonnes of copper in the first half of the year and is off to a strong start in the third quarter,” commented Peter Rockandel, CEO.

Mr. Rockandel added, “With the free cash flow from operations, the new $800 million Term Loan, and the existing $1.75 billion revolving credit facility, Lundin Mining retains a strong balance sheet and significant liquidity to progress growth projects.”

Summary Financial Results

see & read more on
https://lundinmining.com/news/lundin-mining-second-quarter-2023-results-123126/

AND
Lundin Mining Announces Declaration of Regular Dividend
August 2, 2023
Download PDF

TORONTO, Aug. 2, 2023 /CNW/ - (TSX: LUN); (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) today announced that its Board of Directors has declared a regular quarterly dividend of Canadian Dollars (“CAD”) $0.09 per share, payable on September 13, 2023, to shareholders of record at the close of business on September 1, 2023. This dividend qualifies as an ‘eligible dividend’ for Canadian income tax purposes. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.

Dividends on shares traded on the Toronto Stock Exchange (“TSX”) will be paid in CAD on September 13, 2023. Dividends on shares traded on Nasdaq Stockholm will be paid in Swedish kronor in accordance with Euroclear principles on September 18, 2023. To execute the payment of the dividend, a temporary administrative cross-border transfer closure will be applied by Euroclear from August 30, 2023 up to and including September 1, 2023 during which period shares of the Company cannot be transferred between TSX and Nasdaq Stockholm.