Lundin Mining Corporation, a Canadian mining company headquartered in Vancouver, is facing significant operational challenges in Chile’s Atacama Region following a severe winter storm. The storm, which brought heavy rainfall and unusually heavy snowfall, has impacted the company’s Caserones and Candelaria mines, prompting a comprehensive response to restore normal operations.
The storm, which struck on July 18th, has caused substantial damage to infrastructure, particularly at the Caserones mine. The company has identified damage to two powerline towers, which has led to a complete loss of power at the site. Repair crews have been mobilized, and the company anticipates that it will take approximately two to three weeks to fully restore power and resume operations. In the meantime, backup generators are supporting critical site infrastructure, and employees are being safely rotated as access roads are progressively reopened.
Impact on Mining Operations
At the Candelaria mine, operations were briefly impacted by heavy rainfall, but the mill has continued to operate using existing ore stockpiles. Mining operations have since returned to full capacity. The company is closely monitoring the situation and will provide further updates as repairs progress and operations resume.
The severe weather system affecting northern Chile and the Atacama Region has begun to weaken, with rainfall expected to continue easing over the next 24 to 48 hours. Additional weather systems may pass through the region this week, but current forecasts indicate they will be significantly less severe than the recent event. While conditions are improving, access restrictions and logistical delays may continue to affect operations in the region for several more days as infrastructure and road access are fully restored.
Lundin Mining’s Strategic Vision
Lundin Mining is a Canadian mining company with three operating mines in Brazil and Chile. The company produces metals that underpin global development, supporting infrastructure, electrification, technological innovation, and economic resilience. Lundin Mining’s strategic vision is to become a top ten global copper producer. To achieve this goal, the company is executing a clear growth strategy, which includes advancing one of the world’s largest copper, gold, and silver projects in the Vicuña District on the border of Argentina and Chile, where it holds a 50% interest.
The company also holds a 31% interest in the Los Helados project, located adjacent to its operating Caserones mine, providing longer-term growth optionality. Lundin Mining has a proven track record of value creation through resource growth, operational excellence, and responsible development.
Forward-Looking Information and Cautionary Statement
Certain of the statements made and information contained herein are forward-looking information within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the impacts from the severe winter storm and inclement weather affecting northern and central Chile, including impacts on the company’s operations and supporting infrastructure and their anticipated severity and duration.
The company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
