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Lundin Mining cuts Caserones copper forecast after second Chile storm
The miner lowered its 2026 Caserones guidance to 120,000-130,000 tonnes and raised forecast cash costs to $2.15-$2.35 per lb due to prolonged recovery and additional downtime.
Lundin Mining cut its 2026 copper production outlook after a second severe winter storm disrupted its Caserones operation in Chile’s Atacama region, extending the mine’s recovery from an earlier power outage, Mining.com reports.
The company lowered Caserones full-year copper guidance to 120,000-130,000 tonnes from 130,000-140,000 tonnes. It also raised forecast cash costs to $2.15-$2.35 per lb from $2.05-$2.25 per lb.
Lundin said the second storm delayed its planned return to full operations and added unplanned downtime. The latest weather event began Aug. 13 with heavy rain at lower elevations and unusually heavy snow and strong winds higher in the Andes.
Back-to-back disruptions included another power outage on Aug. 14 after severe winds and snowfall damaged a transmission tower, following a prior loss of power from July 18 to July 30. Lundin said repairs, including restoring power, repairing infrastructure, and reopening access routes, are needed before Caserones can return to normal operations, and it reduced its consolidated copper outlook to 300,000-325,000 tonnes while pushing expected cash costs to $1.95-$2.15 per pound.
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