Lundin Mining Cuts Caserones Copper Output Forecast After Second Chile Winter Storm

Canadian miner Lundin Mining, according to Boursenews, published Thursday, August 20, 2026 (29 Mordad 1405), cut its 2026 full year copper production forecast for the Caserones mine from 130,000 to 140,000 tons down to 120,000 to 130,000 tons, after a second severe winter storm hit its operations in Chile's Atacama region. The storm, which began on August 13, brought heavy rain at lower elevations and unusually heavy snow and strong winds in the Andes, and on August 14 again knocked out power at the mine after a transmission tower already damaged in the first storm was hit again.

The company also raised its cash cost forecast for the mine from 2.05 to 2.25 dollars a pound to 2.15 to 2.35 dollars a pound. CEO Jack Lundin said that after the first storm the company had expected the production impact to stay at the lower end of its initial guidance range, but the second severe storm disrupted the recovery process and caused further unplanned operational stoppages. With the revision, Lundin Mining also lowered its consolidated copper production guidance to 300,000 to 325,000 tons.