Ecuador
News

Lundin Gold on track to meet production guidance

Bnamericas Published: Wednesday, November 09, 2022

Canada’s Lundin Gold, which has the Fruta del Norte underground mine in Ecuador, is on track to meet its 2022 production forecast.

In the first nine months, Lundin Gold produced 355,190oz, putting it firmly on course to end the year within guidance of 430,000-460,000oz, the company said in a statement on its Q3 results. All the production was from Fruta del Norte.

The Vancouver-based company remains focused on further optimization at Fruta del Norte, improving efficiencies and reducing costs, said CEO Ron Hochstein.

Third quarter revenues were US$210mn compared to US$191mn a year earlier, and net income reached US$62.7mn, up from US$56.7mn.

Hochstein said that while quarterly revenue was affected by the drop in the price of gold, the sale of additional ounces produced at the end of the second quarter had a positive impact.

That production was not sold until the third quarter due to blockades on some of Ecuador's main highways during a national strike in June.

Ecuador currently has only two large mines in production, Fruta del Norte and the Mirador copper mine, operated by EcuaCorriente.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: PV COPPER
  • Current stage: Blurred
  • Updated: 1 year ago

Other companies in: Mining & Metals (Ecuador)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Oroconcent S.A.  (Oroconcent)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Grupo Minero Bonanza
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Poweron  (Poweron Ecuador)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...