TSX:LUN $35.58 NASDAQ STOCKHOLM LUMI kr234.20

Candelaria Mining Complex

Copper, Gold and Silver

Mine Resource

Open pit and underground mine

Mine Type

80%

Ownership

Atacama Region, Chile

Location

The Candelaria Copper Mining Complex is Lundin Mining’s largest operation, comprising both open-pit and underground mines with significant mineral reserves.

Located in Chile’s Atacama Region, approximately 20 km south of Copiapó, the complex includes the Candelaria and Ojos del Salado operations. Formerly owned by Freeport-McMoRan, Lundin Mining acquired its 80% interest in 2014, with the remaining 20% held by Sumitomo. The complex benefits from excellent infrastructure and access to a skilled regional workforce.

Candelaria consists of an open-pit and underground mine feeding a ~80,000 tonnes-per-day processing plant. Ojos del Salado includes the Santos underground mine and the PAC mill, which has an approximate capacity of 3,800 tpd. Ore is processed using conventional crushing, grinding, flotation, and concentration methods to produce copper concentrates containing precious metals. Concentrate is exported via the Punta Padrones port near Caldera.

Candelaria recycles over 80% of the water required in the operation and any fresh water is supplied by our desalination plant at Caldera. 100% of Candelaria’s electrical supply is from renewable sources.

Ore is processed using conventional crushing, grinding, flotation, and concentration methods to produce copper concentrates containing precious metals

Candelaria image

ADDITIONAL RESOURCES

Technical Report

Candelaria Microsite

2025 Performance
2026 Guidance

*These are non-GAAP measures. Please refer to the Company’s Management Discussion and Analysis for the year ended December 31, 2025, for discussion of non-GAAP and other performance measures.

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