Candelaria Copper Mining Complex

Candelaria Copper Mining Complex (Lundin Mining 80%) - copper-gold-silver open pit and underground mines incl. Candelaria mine, Santos mine and Alcaparrosa mine, near Copiapó, Atacama Region, Chile. Owned by Minera Candelaria and Minera Ojos del Salado (both 80% indirect subsidiaries of Lundin Mining). Candelaria 2040 EIA approved September 8, 2023. Forecast LOM extends to 2051. Subject to Candelaria Stream Agreement with Franco-Nevada (68% of total Au and Ag production through 2027 then 40%). Underground expansion to 22ktpd throughput targeting +14kt Cu medium term. Alcaparrosa removed from LOM and reserves in 2025 (suspended for sinkhole remediation since July 2022).