https://www.miningweekly.com
Copper|Environment|Financial|Flow|Gold|Mining|PROJECT|Resources|Underground|Flow|Operations
Copper|Environment|Financial|Flow|Gold|Mining|PROJECT|Resources|Underground|Flow|Operations
copper|environment|financial|flow-company|gold|mining|project|resources|underground|flow-industry-term|operations

Lundin’s free cash flow tops $1bn

18th February 2022

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Canadian base metals miner Lundin Mining took advantage of the favourable price environment in 2021, setting several all-time financial records.

The company on Thursday announced all-time-high earnings of nearly $880-million, adjusted earnings before interest, taxes, depreciation and amortisation of $1.9-billion and free cash flow of more than $1-billion.

For the 12 months ended December, Lundin grew its revenue from $2.04-billion to $3.23-billion and its net earnings surged from $189.1-million in 2020 to $879.3-million.

Free cash flow skyrocketed from $199.4-million in 2020 to $1-billion in 2021, the company reported.

"Our operations finished the year strong with excellent fourth quarter performance, including significant improvement at Candelaria. The Zinc Expansion Project at Neves-Corvo was substantially complete at year-end and commissioning is now under way," said CEO Peter Rockandel.

He added that expansion study work evaluating future growth and mine life extensions were advanced for the Candelaria underground mines, Keel zone of Eagle East and at Chapada.

"We are very excited about the discovery of the high-grade copper-gold Saúva prospect and potential positive implications for the Chapada expansion alternatives," he commented.

Lundin's acquisition of Josemaria Resources, for its world-class copper/gold project, remains on-track for closing in the second quarter of 2022.

Edited by Creamer Media Reporter

Comments

Latest News

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
Updated 5 hours ago

Showroom

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.117 0.154s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: