Lundin Mining 2025Q2 铜产量同比增加 11.8%至 8.01 万吨，持续运营业务净利润同比增长 33.7%至 1.596 亿美元

Investment Rating - Industry rating: Recommended [4] Core Insights - In Q2 2025, Lundin Mining's copper production increased by 11.8% year-on-year to 80,073 tons, with a quarter-on-quarter increase of 4.3% [1] - The company's net profit from continuing operations rose by 33.7% year-on-year to $159.6 million, primarily due to increased gross profit and reduced interest expenses from debt repayment [2] - The company reaffirmed its annual production guidance for copper at 303,000-330,000 tons and adjusted cash cost guidance to $1.95-$2.15 per pound [6][9] Production and Financial Performance - Copper production in Q2 2025 was 80,073 tons, gold production was 38,118 ounces (1.19 tons), nickel production was 2,713 tons, and molybdenum production was 380 tons [1] - Revenue from continuing operations in Q2 2025 was $937.2 million, a 6.7% increase year-on-year [2] - The gross profit for Q2 2025 was $271.3 million, reflecting an 18.7% year-on-year increase [2] - Free cash flow from continuing operations was $165 million, a decrease of 27.1% year-on-year [5] Capital Expenditures - Sustaining capital expenditures for Q2 2025 were $115.9 million, a decrease of 8.5% year-on-year [3] - Expansionary capital expenditures for Q2 2025 were $33.7 million, a significant decrease of 61.3% year-on-year [5] - Total capital expenditures guidance for 2025 is set at $795 million, with sustaining expenditures at $530 million and expansionary expenditures at $265 million [10]