FULLTEXT DEL 5 AV 5
Årsredovisning 2025
26. FINANCIAL INSTRUMENTS
Derivative instruments
From time to time, the Company uses derivative contracts as part of its risk management strategy to mitigate exposure
to foreign currencies and commodities. The Company maintains foreign currency forward and option contracts on
CAD, BRL, and CLP foreign currencies intended to limit the foreign exchange exposure of its forecasted foreign
currency denominated after-tax attributable operating and capital expenditures. Additional commodity forward swap
and option contracts are used from time to time to limit exposure to changes in the price of diesel fuel purchases at
Candelaria, and to limit exposure to changes in the price of gold.
The foreign exchange and commodities contracts have not been designated as hedges for purposes of hedge
accounting and are measured at fair value with changes in fair value recognized in the consolidated statements of
earnings.
The following tables outline the foreign currency and commodity derivative notional contract positions and their
expiry dates:
Expired in Expiring throughout:
Foreign currency forward contracts 2025 2026
USD/CAD forwards
Average contract price 1.40 —
Position (USD millions) 499 —
USD/SEK forwards
Average contract price 10.83 —
Position (SEK millions) 758 —
Expired in Expiring throughout:
Foreign currency option contracts 2025 2026
USD/BRL collars
Average contract price 5.06/6.04 5.07/6.04
Position (USD millions) 185 114
USD/CLP collars
Average contract price 872/1,032 904/1,060
Position (USD millions) 511 342
Expired in Expiring throughout:
Commodity hedge contracts 2025 2026
Gold collars
Average contract price ($/oz) 2,500/3,125 2,500/3,455
Position (koz) 62 43
Diesel collars
Average contract price ($/L) 0.50/0.65 —
Position (millions of litres) 54 —
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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The Company’s net unrealized and realized gain/(loss) on foreign currency and commodity derivative contracts are as
follows:
2025 2024
Unrealized gain (loss) on derivative financial instruments:
Foreign currency contracts $ 71.4 (87.7)
Commodity hedge contracts (42.4) 2.5
29.0 (85.2)
Realized (loss) gain on derivative financial instruments:
Foreign currency contracts (13.7) 2.6
Commodity hedge contracts (23.5) (4.6)
(37.2) (2.0)
Total unrealized and realized loss on derivative contracts: $ (8.2) $ (87.2)
A summary of the fair values of unsettled derivative contracts recorded on the consolidated balance sheet is as
follows:
December 31, 2025 December 31, 2024
Foreign currency contracts:
Current asset position $ 9.8 $ —
Current liability position 2.3 39.4
Non-current liability position — 24.5
Commodity contracts:
Current asset position $ — $ 1.0
Non-current asset position — 0.7
Current liability position 40.7 —
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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Fair values of financial instruments
The Company’s financial assets and financial liabilities have been classified into categories that determine their basis of
measurement. The following table shows the carrying values, fair values and fair value hierarchy of the Company’s
financial instruments as at December 31, 2025 and December 31, 2024:
December 31, 2025 December 31, 2024
Level
Carrying
value Fair value
Carrying
value Fair value
Financial assets
Fair value through profit or loss
Restricted funds 1 $ 16.4 $ 16.4 $ 8.6 $ 8.6
Trade receivables (provisional) 2 624.2 624.2 337.1 337.1
Marketable securities 1 30.9 30.9 60.1 60.1
Foreign currency contracts 2 9.8 9.8 — —
Contingent consideration (Note 3) 3 85.7 85.7 — —
Commodity contracts 2 — — 1.6 1.6
$ 767.0 $ 767.0 $ 407.4 $ 407.4
Financial liabilities
Amortized cost
Debt 3 $ 237.1 $ 237.1 $ 1,757.0 $ 1,757.0
Caserones deferred consideration 2 109.3 109.3 112.8 112.8
Fair value through profit or loss
Pricing provisions on concentrate sales 2 $ 2.4 $ 2.4 $ 7.1 $ 7.1
Foreign currency contracts 2 2.3 2.3 63.9 63.9
Commodity contracts 2 40.7 40.7 — —
$ 45.4 $ 45.4 $ 71.0 $ 71.0
Fair values of financial instruments are determined by valuation methods depending on hierarchy levels as defined
below:
Level 1 – Quoted market price in active markets for identical assets or liabilities.
Level 2 – Inputs other than quoted market prices included within Level 1 that are observable for the assets or
liabilities, either directly (i.e. observed prices) or indirectly (i.e. derived from prices).
Level 3 – Inputs for the assets or liabilities are not based on observable market data.
The Company estimates fair values based on the following methods of valuation and assumptions:
Marketable securities/debt and equity investments/restricted funds – The fair value of investments in shares and
bonds is determined based on the quoted market price.
Trade receivables/pricing provisions on concentrate sales – The fair value of trade receivables that contain
provisional pricing sales arrangements are valued using quoted forward market prices. The Company recognized
positive pricing adjustments of $311.8 million in revenue during the year ended December 31, 2025 (December
31, 2024 - $7.8 million positive pricing adjustments).
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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Foreign currency and commodity contracts – The fair value of these derivatives are determined by the
counterparties to the contracts and are assessed by Management using pricing models based on active market
prices.
Contingent consideration – The fair value of the contingent consideration was estimated by calculating the
present value of the future expected cash flows from the contingent copper and zinc payments related to the
Neves-Corvo mine and Zinkgruvan mine based on probability-weighted scenarios of future copper and zinc
prices.
Caserones deferred consideration – The fair value of the Caserones deferred consideration has been discounted
at the estimated credit adjusted risk free rate applicable to future payments.
Debt – The fair values approximate carrying values as the interest rates are comparable to current market rates.
The carrying values of certain financial instruments maturing in the short-term approximate their fair values.
These financial instruments include cash and cash equivalents, trade and other receivables other than those
provisionally priced, and trade and other payables other than those provisionally priced, which are classified as
amortized cost.
27. COMMITMENTS AND CONTINGENCIES
a) The Company has capital commitments of $327.0 million on various initiatives of which $323.7 million and $3.3
million relate to continuing and discontinued operations, respectively. Capital commitments of $197.0 million are
expected to be paid during 2026 of which $193.7 million is related to continuing operations.
b) T he Company has been provided with an indemnity for any tax liabilities that may arise for periods prior to the
date of the Chapada acquisition in July 2019. For identified tax claims existing at the date of acquisition, the
Company has agreed to be liable for up to the first $21.0 million (BRL 101.5 million). While the outcome of these
tax claims is uncertain, no material liabilities have been accrued as the Company believes material payment is not
likely due to the nature of the tax claims.
c) In respect of the 2017 taxation year, the Canada Revenue Agency ("CRA") issued a reassessment denying the
Company’s 2007 election to increase the tax cost of its investment in a subsidiary. The reassessment proposes an
increase in taxable income of approximately $456 million, which would result in additional income taxes payable
of approximately $114.1 million and interest of approximately $46.2 million. The Company filed a Notice of
Objection on January 28, 2026 and will vigorously and expeditiously defend its tax filing position through CRA's
Appeals Division and, if required, court proceedings. No provision has been recognized as the Company believes
its filing position is in compliance with Canadian tax law.
d) The following summarizes total tax exposure under two contradictory assessments received from the Chilean
Internal Revenue Service ("IRS"). Given that the assessments relate to the same issue, the Company’s potential
exposure is expected to be limited to one of the below scenarios:
i) For taxation years 2014 through 2019, the IRS issued tax assessments denying tax deductions related to
interest expenses arising from an intercompany debt. The total of all assessments amounts to $145.6 million
in taxes plus estimated interest and penalties of $131.7 million. All tax refunds arising from the tax
deductions related to the intercompany debt have been received up to December 2025.
ii) On the same intercompany debt for taxation years 2016 through 2019, the Company has also received
assessments from the IRS seeking additional withholding taxes, including interest and penalties, on interest
payments made. The total of all assessments amounts to $114.2 million in taxes plus estimated interest and
penalties of $142.2 million.
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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In November 2025, the Company received final rulings from the Second Tax and Customs Court of the
Metropolitan Region of Santiago in respect of the assessments summarized above. The rulings were all in favour
of the Company. Subsequently, in December 2025, the Chilean IRS filed an appeal. The Company maintains its
position that the assessments are inconsistent with Chilean tax law and, therefore, without merit. The Company
does not expect further assessments to be issued related to this tax matter, as the intercompany loan was
amended in 2020 with an interest rate accepted by the IRS.
e) The Company may be involved in legal proceedings arising in the ordinary course of business, including the
actions described below. The potential amount of the liability with respect to such legal proceedings is not
expected to materially affect the Company’s financial position. The Company believes the claims to be without
merit and the loss, if any, cannot be determined at this time for all contingencies. The Company has accordingly
not accrued any amounts related to the litigations below (unless otherwise noted). The Company intends to
vigorously defend these claims.
Two proposed class actions were filed against the Company and certain officers and directors. The first, in the
province of Ontario, on December 7, 2017 (Markowich v. Lundin Mining Corporation et al) and a second
overlapping action in the province of Québec on January 18, 2018 (Prévreau v. Lundin Mining Corporation et al).
Both proposed class actions seek damages of $132.3 million (C$175.0 million) and punitive damages of $7.6
million (C$10.0 million) and assert various statutory and other claims related to, among other things, alleged
misrepresentations and/or failure to make timely disclosure of material information about the Company’s
business and operations and, in particular, the operations of the Candelaria mine and a rock slide at the
Candelaria mine on October 31, 2017. The proposed Ontario class action asserts claims on behalf of a putative
class comprising persons who acquired securities of the Company between October 25, 2017, and November 29,
2017, whereas the proposed Québec class action asserts claims on behalf of only such persons who are resident
or domiciled in Québec. In June 2018, counsel to the plaintiffs in the Québec action agreed to a stay (i.e.,
indefinite cessation) of that proceeding in light of the Ontario action. On August 30, 2018, the Québec Superior
Court, on consent of the parties, stayed the Québec action indefinitely. On September 2, 2020, the plaintiff in the
Ontario action served motion materials for leave and certification with the Ontario Superior Court of Justice. On
January 6, 2022, the Ontario Superior Court of Justice denied the leave application and declined the motion for
certification. On May 24, 2023, the Ontario Court of Appeal granted the plaintiff’s appeal of this decision. In
August 2023, the defendants filed an application for leave to appeal the Ontario Court of Appeal decision to the
Supreme Court of Canada, which leave to appeal was granted on March 25, 2024. On November 28, 2025, the
Supreme Court of Canada upheld the 2023 Ontario Court of Appeal decision allowing the certified class action to
proceed before the Ontario Superior Court of Justice. There has been no decision on the merits of the case, and
the Company intends to vigorously defend the action.
f) Pursuant to the Definitive Agreement (Note 3), the Company provides financial assurances for the reclamation
and closure of Eagle mine.
28. SEGMENTED INFORMATION
The Company is engaged in mining, exploration and development of mineral properties at three operating sites
located in Chile and Brazil, and at Vicuña in Argentina and Chile. Operating segments are reported in a manner
consistent with the internal reporting provided to the executive leadership team who act as the operating decision-
makers. The chief operating decision makers consider the business from a site and project-level perspective. Executive
management are responsible for allocating resources and assessing performance of the operating segments. The
Company has identified four reportable segments which include three operating sites, and the Vicuña Project. The
Vicuña segment is an independently managed joint arrangement and includes the legacy Josemaria segment for
periods up until January 15, 2025 and the Company's 50% share of the Josemaria project and Filo del Sol project after
that date (Note 4). Discontinued operations include results from the Eagle, Neves-Corvo and Zinkgruvan segments
(Note 3).
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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For the year ended December 31, 2025 Candelaria Caserones Chapada Vicuña1 Other Total
Continuing
Operations
Discontinued
Operations
Total
Chile Chile Brazil
Argentina &
Chile
Revenue $ 1,769.0 $ 1,618.9 $ 665.3 $ — $ — $ 4,053.2 $ 409.3 $ 4,462.5
Cost of goods sold
Direct mine and mill costs (738.0) (777.1) (262.7) — (2.9) (1,780.7) (236.8) (2,017.5)
Transportation (30.2) (35.5) (29.6) — — (95.3) (27.2) (122.5)
Royalties (15.7) (41.9) (14.5) — — (72.1) (13.8) (85.9)
Depreciation, depletion and amortization (300.0) (212.2) (106.2) — (0.5) (618.9) (22.3) (641.2)
Inventory write-down — — (88.2) — — (88.2) — (88.2)
Gross profit (loss) 685.1 552.2 164.1 — (3.4) 1,398.0 109.2 1,507.2
General and administrative expenses — — — — (63.9) (63.9) — (63.9)
Exploration and business development (8.4) (21.9) (4.7) (4.2) (4.3) (43.5) (6.9) (50.4)
Finance (costs) income (19.4) (20.1) (23.3) 1.0 (28.7) (90.5) (9.0) (99.5)
Other (expense) income (55.0) (19.0) (9.0) — 30.6 (52.4) 40.1 (12.3)
Gain on disposal of subsidiaries — — — — — — 106.3 106.3
Asset impairment — — — — — — 22.7 22.7
Income tax (expense) recovery (235.1) 497.8 — (12.2) 19.5 270.0 (26.6) 243.4
Net earnings (loss) $ 367.2 $ 989.0 $ 127.1 $ (15.4) $ (50.2) $ 1,417.7 $ 235.8 $ 1,653.5
Capital expenditures $ 246.0 $ 156.3 $ 99.2 $ 182.8 $ 0.3 $ 684.6 $ 79.2 $ 763.8
Total non-current assets(2) $ 2,997.8 $ 1,336.2 $ 1,240.2 $ 2,392.6 $ 6.0 $ 7,972.8 $ — $ 7,972.8
1 The Vicuña segment includes the legacy Josemaria segment for periods up until January 15, 2025 and the Company's 50% share of the Vicuña Project after that date (Note 4).
2 Non-current assets include long-term inventory, mineral properties, plant and equipment, and goodwill.
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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For the year ended December 31, 2024 Candelaria Caserones Chapada Vicuña1 Other Total
Continuing
Operations
Discontinued
Operations
Total
Chile Chile Brazil
Argentina &
Chile
Revenue $ 1,618.9 $ 1,153.6 $ 497.6 $ — $ — $ 3,270.1 $ 847.3 $ 4,117.4
Cost of goods sold
Direct mine and mill costs (679.9) (709.4) (248.5) — (1.2) (1,639.0) (501.1) (2,140.1)
Transportation (31.0) (34.7) (25.6) — — (91.3) (44.7) (136.0)
Royalties (15.7) (32.1) (8.6) — — (56.4) (11.4) (67.8)
Depreciation, depletion and amortization (313.1) (184.1) (76.5) — (0.5) (574.2) (188.9) (763.1)
Reversal of inventory write-down — — 26.6 — — 26.6 — 26.6
Gross profit (loss) 579.2 193.3 165.0 — (1.7) 935.8 101.2 1,037.0
General and administrative expenses — — — — (58.3) (58.3) — (58.3)
Exploration and business development (10.2) (14.8) (5.6) (8.3) (3.2) (42.1) (16.0) (58.1)
Finance (costs) income (26.9) (17.3) (25.7) 21.5 (89.3) (137.7) (13.4) (151.1)
Other (expense) income 14.9 37.6 3.8 7.3 (85.5) (21.9) (11.0) (32.9)
Goodwill and asset impairment (55.9) — (93.5) — — (149.4) (396.1) (545.5)
Partial suspension of underground operations cost — — — — — — (36.1) (36.1)
Income tax (expense) recovery (237.9) (0.9) (62.2) 50.1 (7.9) (258.8) 42.5 (216.3)
Net earnings (loss) $ 263.2 $ 197.9 $ (18.2) $ 70.6 $ (245.9) $ 267.6 $ (328.9) $ (61.3)
Capital expenditures $ 275.7 $ 144.0 $ 107.8 $ 258.2 $ 0.4 $ 786.1 $ 176.2 $ 962.3
Total non-current assets(2) $ 3,063.8 $ 1,374.7 $ 1,290.0 $ 1,408.2 $ 6.6 $ 7,143.3 $ 107.5 $ 7,250.8
1 The Vicuña segment includes the legacy Josemaria segment for periods up until January 15, 2025 and the Company's 50% share of the Vicuña Project after that date (Note 4).
2 Non-current assets include long-term inventory, mineral properties, plant and equipment, and goodwill.
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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29. RELATED PARTY TRANSACTIONS
a) Key management personnel - The Company has identified its directors and senior officers as its key management
personnel. Employee benefits for key management personnel are as follows:
2025 2024
Wages, salaries and pension benefits $ 7.8 $ 7.4
Share-based compensation 4.2 2.2
$ 12.0 $ 9.6
b) Other related parties - For the year ended December 31, 2025, the Company incurred $7.3 million (December 31,
2024 – $8.4 million), and no receipt of refunds (December 31, 2024 – $2.1 million) for services provided by
companies owned by members of key management personnel primarily relating to office rental and
transportation. For the year ended December 31, 2025, the Company incurred $2.2 million (December 31, 2024 –
$2.6 million), for services provided by the Lundin Foundation, a not-for-profit organization supporting community
economic development programs and related initiatives in the regions in which the Company operates.
30. MANAGEMENT OF FINANCIAL RISK
The Company’s financial instruments are exposed to certain financial risks, including credit risk, liquidity risk, foreign
exchange risk, commodity price risk and interest rate risk.
(a) Credit risk
The exposure to credit risk arises through the failure of a customer or another third party to meet its contractual
obligations to the Company. The Company believes that its maximum exposure to credit risk as at December 31,
2025 is the carrying value of its trade and other receivables.
Concentrate and cathodes produced at the Company’s mines is sold to a number of strategic customers with
whom the Company has established long-term relationships. Limited amounts of concentrate are occasionally
sold to commodity traders, under prevailing market conditions. Payment terms vary and provisional payments
are normally received when concentrate or copper cathodes have been placed on board a vessel for shipment or
delivered to a location specified by the customer, in accordance with industry practice, with final settlement up
to six months following the date of shipment. Sales to commodity traders are made against secure payment
terms such as a letter of credit, pre-payment or payment against shipping documents. Credit worthiness of
customers is reviewed by the Company on an annual basis or more frequently, if warranted, and those not
meeting certain credit criteria may be asked to make 100% provisional payment up-front or provide an
acceptable payment instrument such as a letter of credit. The failure of any of the Company’s strategic customers
could have a material adverse effect on the Company’s financial position. For the year ended December 31, 2025,
the Company has four customers that individually account for 10% or more of the Company’s total sales. The
Company's largest customers represent approximately 16%, 16%, 14%, and 10% of total sales (2024 - four
customers representing 20%, 14%, 13%, and 11% of total sales).
With respect to credit risk arising from the other financial assets of the Company, which comprise cash and cash
equivalents, restricted funds, marketable securities and equity investments, and foreign currency contracts, the
Company’s exposure to credit risk arises from default of the counterparty, with a maximum exposure equal to
the carrying amount of these instruments. The Company limits material counterparty credit risk on these assets
by dealing with financial institutions with long-term credit ratings with Standard & Poor’s of at least A, or the
equivalent thereof with Moody’s, or those which have been otherwise approved.
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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(b) Liquidity risk
The Company has in place a planning and forecasting process to help determine the funds required to support
the Company’s normal operating requirements on an ongoing basis. The Company ensures that there is sufficient
available capital to meet its short-term business requirements, taking into account its anticipated cash flows from
operations and its holdings of cash and cash equivalents. The Company has a revolving credit facility in place to
assist with meeting its cash flow needs as required (Note 12).
The maturities of the Company’s non-current liabilities are disclosed in Note 12 and Note 27. All current liabilities
are due to be settled within one year.
(c) Foreign exchange risk
The Company operates internationally and is exposed to foreign exchange risk arising from various currencies,
primarily with respect to CLP, BRL, and ARS.
The Company’s risk management strategy is to manage cash flow risk related to foreign denominated cash flows.
The Company is exposed to currency risk related to changes in rates of exchange between foreign denominated
balances and the functional currencies of the Company’s principal operating subsidiaries. The Company’s
revenues are denominated in US dollars, while most of the Company’s operating and capital expenditures are
denominated in the local currencies. The Company may, at its discretion, use forward or derivative contracts to
manage its exposure to foreign currencies, the use of which is subject to appropriate approval procedures. A
significant change in the currency exchange rates between the US dollar and foreign currencies could have a
material effect on the Company’s net earnings and other comprehensive income.
The following table illustrates the estimated impact a 10% US dollar change against the CLP and BRL would have
on pre-tax earnings as a result of translating the Company's foreign denominated financial instruments as at
December 31, 2025 before the impact of derivative contracts:
Currency Change Effect on Pre-Tax Earnings Change Effect on Pre-Tax Earnings
CLP +10% $(23.9) -10% $23.9
BRL +10% $(2.4) -10% $2.4
(d) Commodity price risk
The Company is subject to price risk associated with fluctuations in the market prices for metals. A significant
change in metal prices could have a material effect on the Company’s revenues.
The Company may, at its discretion, use forward or derivative contracts to manage its exposure to changes in
commodity prices, the use of which is subject to appropriate approval procedures. The Company is also subject to
price risk on the final settlement of its provisionally priced trade receivables.
The following table illustrates the sensitivity of the Company’s risk on final settlement of its provisionally priced
trade receivables:
Metal Payable metal Provisional price on
December 31, 2025 Change Effect on Revenue
($millions)
Copper 80,435 t $5.64/lb +/-10% +/-100.0
Gold 32 koz $4,343/oz +/-10% +/-13.8
Molybdenum 619 t $23.30/lb +/-10% +/-3.2
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
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(e) Interest rate risk
The Company’s exposure to interest rate risk arises from the interest rate impact on its cash and cash
equivalents, restricted funds, and debt facilities. Certain of the Company's debt facilities include a variable rate
component such as references to Term SOFR on the revolving credit facility, as well as applicable credit spreads
depending on the Company's net leverage ratio.
As at December 31, 2025, holding all other variables constant, a 1% change in the interest rate would result in an
approximate $2.4 million change in interest expense on an annualized basis (2024 - $12.5 million).
31. MANAGEMENT OF CAPITAL RISK
The Company’s objectives when managing its capital include ensuring a sufficient combination of positive operating
cash flows and debt and equity financing in order to meet its ongoing capital development and exploration programs
in a way that maximizes the shareholder return given the assumed risks of its operations while, at the same time,
safeguarding the Company’s ability to continue as a going concern. The Company considers the following items as
capital: excess cash balances, debt, lease liabilities, and share capital.
Through the ongoing management of its capital, the Company will modify the structure of its capital based on
changing economic conditions in the jurisdictions in which it operates. In doing so, the Company may issue new shares
or debt, buy back issued shares, or pay off any outstanding debt. The Company continuously monitors its capital
structure to determine the appropriateness of paying dividends.
Planning, including life-of-mine plans, annual budgeting and controls over major investment decisions are the primary
tools used to manage the Company’s capital. Updates are made as necessary to both capital expenditure and
operational budgets in order to adapt to changes in risk factors of proposed expenditure programs and market
conditions within the mining industry.
32. SUPPLEMENTARY CASH FLOW INFORMATION
2025 2024
Changes in non-cash working capital items consist of:
Trade and income taxes receivable, and other current assets $ (348.9) $ 160.0
Inventories (39.1) (72.0)
Trade and income taxes payable, and other current liabilities (26.0) 133.7
$ (414.0) $ 221.7
Operating activities included the following cash payments:
Income taxes paid $ 396.4 $ 184.4
33. SUBSEQUENT EVENT
On January 9, 2026, the Company completed the sale of Eagle mine to Talon (Note 3).
LUNDIN MINING CORPORATION
Notes to consolidated financial statements
For the years ended December 31, 2025 and 2024
(Tabular amounts in millions of US dollars, except for shares and per share amounts)
252