Santiago: Canadian miner Lundin Mining has lowered its 2026 copper production outlook for its Caserones operation in Chile after a second severe winter storm disrupted the mine’s power supply and delayed the recovery of operations.
The latest storm hit Chile’s Atacama region on August 14, damaging transmission infrastructure and causing another power outage at the high-altitude Caserones copper-molybdenum mine. The disruption came after an earlier weather-related outage had already affected operations.
Lundin Mining has reduced its 2026 copper production guidance for Caserones to 120,000–130,000 tonnes, from its previous forecast of 130,000–140,000 tonnes. The company has also raised its expected cash costs for the operation to around $2.15–$2.35 per pound.
The company expects power restoration to progress, with operations gradually ramping up after critical infrastructure is supported by backup generators. The repeated weather disruptions highlight the vulnerability of mining operations and supporting infrastructure in Chile’s mountainous Atacama region.
The production cut comes at a time when copper markets are closely watching supply disruptions and tightening availability. Any prolonged impact on major producers could add further pressure to global copper supplies.