Lundin Gold Unveils 2026 Outlook with Higher Throughput and Record Exploration Plans

SEATTLE (Scrap Monster): Lundin Gold has released its 2026 operational forecast and multi-year outlook for the Fruta del Norte (FDN) mine in southeast Ecuador, outlining a year of increased throughput, expanded exploration, and key investment decisions.

The company plans to process 5,500 tonnes of ore per day in 2026, supporting an expected gold output of 475,000 to 525,000 ounces. Average grades are projected at 8.3 g/t, and recoveries are anticipated to reach about 91%, with production weighted toward the latter half of the year as mining moves into higher-grade zones.

The miner expects cash operating costs to range from $900 to $960 per ounce, while all-in sustaining costs are projected at $1,110 to $1,170 per ounce, influenced by higher assumed gold prices and associated royalties. Sustaining capital expenditures are estimated at $75 million to $90 million, including continued advancement of the tailings storage facility and key infrastructure improvements.

Lundin Gold will also initiate its largest exploration effort to date: an $85 million drill program totaling 133,000 metres. Decisions on developing the Fruta del Norte South extension and on potential mine-mill capacity increases are scheduled for 2026. The company intends to maintain its dividend strategy, combining fixed quarterly payments with variable distributions tied to free cash flow.