Lundin Gold prepares key decisions in 2026 for its Ecuadorian mine Fruta del Norte

Lundin Gold will define in 2026 two strategic investment milestones for its Fruta del Norte (FDN) gold mine in Ecuador, in decisions that will mark the next growth phase of the asset.

The company will make a decision in the first half of the year on the development of the Fruta del Norte Sur (FDNS) target and, in the second, will evaluate increasing processing capacity beyond the current 5,500t/d, as part of its expansion strategy.

For 2026 and 2027 Lundin projects production of 475,000–525,000oz.

Lundin's annual production guidance for 2025 at Fruta del Norte is between 490,000 and 525,000 ounces of gold, with the expectation of reaching the upper range.

The CEO of the company, Jamie Beck, indicated that the investments in exploration are already delivering tangible results and that Lundin is positioned for long-term growth.

“2026 marks an important step for Lundin Gold as we continue unlocking the full potential of Fruta del Norte and its extensions (…) We are positioning the company for long-term growth. Our investments in exploration to date are delivering tangible results, and these successes are driving future expansion opportunities,” said Beck in a statement.

The exploration program for 2026 contemplates US$85 million (mn) and 133,000m of drilling: 100,000m for near-mine exploration, 25,000m for resource conversion, and 8,000m for regional targets defined after reconnaissance campaigns in 2025.

In parallel, the company plans between US$75mn and US$90mn in sustaining capital, which includes resources for the tailings deposit, infrastructure improvements, and renewal of mobile equipment.

By 2027, sustaining capital is estimated between US$80mn and US$95mn.

Fruta del Norte is located in the Amazon province of Zamora Chinchipe, in the southeast of the country.

FDN and the copper mining company Mirador, with Chinese capital, are the only large-scale mines in production in Ecuador, although the country has several copper and gold projects at different stages in its portfolio.

large-scale initiatives, including Cascabel and Warintza, at advanced stages, could in the coming years position Ecuador as a relevant player in Latin American mining, attracting foreign investment and strengthening the local value chain. 

Solaris, the operator of the US$3.7 billion (bn) Warintza copper, gold, and molybdenum project, plans to start construction of the mine in 2027 and begin production in 2030, in what is expected to be the country’s largest copper mine and to compete with major operations in Peru and Chile.

SolGold plans to start early works in 2026 on the first stage, worth US$1.55bn, of its Cascabel copper, gold, and silver project, which foresees a total investment of US$4.2bn and is expected to become one of the world's 20 most important copper and gold mines 

 (The original version of this content was written in Spanish)