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Lundin has another record free cash flow quarter

28th October 2021

By: Creamer Media Reporter

     

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Favourable base metals prices have seen Lundin Mining reporting its second consecutive quarterly free cash flow record, with generation of $407-million – a substantial increase from $194.5-million a year earlier.

The Canadian base metals company increased its revenue by a quarter to $756.4-million, while net earnings rose by 42% to $190.6-million and adjusted earnings increased by 58% to $168.4-million.

Outgoing CEO Marie Inkster, who will be succeeded next week by Peter Rockandel, says that the group’s financial performance was underpinned by strong operational performance, most notably quarter-on-quarter production increases and cash cost improvements at Chapada and Zinkgruvan.

The group’s total copper production increased by 6% to 65 077 t, zinc production increased by 18% to 38 769 t and nickel output dipped to 4 124 t. Gold production remained unchanged at 46 000 oz.

The production guidance and full year cash cost guidance remain unchanged for all operations. 

Edited by Creamer Media Reporter

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