Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Lundin Mining Corp (LUN CN) Q2FY26: Progress on Vicuña, 7x EV-EBITDA

Copper Price Inflection To 14,000 USD/Ton And Three Stocks To Play It

Copper in Focus: US Tariff Risks Fuel Stockpiling; VBM IPO Hits Roadblock

Lundin Mining Corp (LUN CN) Q1 FY2026: Strong, No Major Diesel/Sulfuric Acid Concerns

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>Electrification, AI data centers, and defense drive 60% of incremental copper demand to 2040; primary supply peaks in 2030, creating a 14 MMt structural gap.</li>
<li>
<a href="https://www.smartkarma.com/entities/lundin-mining-corp-92352503-3781-4fcb-a4db-62e6f6343783" target="_blank" data-smartkarma-citation="entities:25356:1" rel="noopener">Lundin Mining (LUN CN)</a>  grows consolidated copper from 323 kt (2026 midpoint) to 500 kt+ via near-term brownfields (Saúva, Caserones cathode, Candelaria UG insourcing) and Vicuña Stages 1-3.</li>
<li>2026 adjusted EBITDA of $2.27B and FCF of $1.24B underpin a $220M distribution; 10-yr cumulative FCF of $23.6B with Vicuña; net cash balance sheet supports sanctioning.</li>
</ul>


Electrification, AI data centers, and defense drive 60% of incremental copper demand to 2040; primary supply peaks in 2030, creating a 14 MMt structural gap.

Lundin Mining (LUN CN)  grows consolidated copper from 323 kt (2026 midpoint) to 500 kt+ via near-term brownfields (Saúva, Caserones cathode, Candelaria UG insourcing) and Vicuña Stages 1-3.
2026 adjusted EBITDA of $2.27B and FCF of $1.24B underpin a $220M distribution; 10-yr cumulative FCF of $23.6B with Vicuña; net cash balance sheet supports sanctioning.


Lundin Mining (LUN CN): Capital Markets Day, Bullish Copper Growth Story