# Lundin Mining Increases M&I Copper Mineral Resources by 37% and Updates Mineral Reserves

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lundin-mining-increases-m-i-copper-mineral-resources-by-37-and-updates-mineral-r--8701492b-4ed3-4c70-b1af-c187cef95902

Original source: https://finance.yahoo.com/news/lundin-mining-increases-m-copper-044500603.html

Publisher: yahoo\_press

Original announcement: 2026-02-19T04:45:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-21T08:14:36.575Z

Atlas analysis updated: 2026-09-21T08:14:36.575Z

- Company: Lundin Mining Corporation

- Ticker: LUN

- Exchange: TSX

- Region: Unavailable

- Primary commodity: Copper

- Secondary commodities: Gold, Silver

- Document categories: Resource update

- Extracted: 2026-09-21 08:14:37 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Lundin Mining has reported updated Mineral Resource and Mineral Reserve estimates effective December 31, 2025. The update highlights a 37% increase in Measured and Indicated copper resources, totaling 28,372 kt at 0.35% Cu.

Reasoning: The company reported a 37% increase in M&I copper resources, representing a substantial expansion of the mineral asset base.

- Positive factor: Significant tonnage growth

- Positive factor: Contained metal growth

Facts used in scoring: 3

## Classification and evidence

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: M&I copper resources increased by 37%

Evidence · text

> Increases M&I Copper Mineral Resources by 37%

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: The increase in M&I copper resources implies growth in contained copper metal

Evidence · text

> Increases M&I Copper Mineral Resources by 37%

## Extracted facts

Stored fact records: 3. Some facts used in scoring do not have a stored record.

## Resource Estimates (3)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lundin-mining-increases-m-i-copper-mineral-resources-by-37-and-updates-mineral-r--8701492b-4ed3-4c70-b1af-c187cef95902#fact-resource-facts-0)

copper

#### Identity

- Commodity: copper
- Ticker: LUN

#### Resource scope

- Estimate type: resource
- Resource group id: resource:64c731588e03ce422ac7

#### Resource Data

- Category: indicated
- Tonnes: 8193000000
- Grade: 0.35
- Grade Unit: %
- Contained Metal: 28372
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: Significant increase in copper resource tonnage and contained metal.

- Positive factor: 37% increase in M&I copper resources

Evidence · text

> estimated Measured and Indicated Mineral Resources of contained copper is 28,372 kilotonnes \("kt"\), ... \(8,193 million tonnes \("Mt"\) at 0.35% Cu

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**No QP/CP Disclosure**

Polarity: negative

Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.

Why it applies: no Qualified or Competent Person is named anywhere in the release

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lundin-mining-increases-m-i-copper-mineral-resources-by-37-and-updates-mineral-r--8701492b-4ed3-4c70-b1af-c187cef95902#fact-resource-facts-1)

gold

#### Identity

- Commodity: gold
- Ticker: LUN

#### Resource scope

- Estimate type: resource
- Resource group id: resource:64c731588e03ce422ac7

#### Resource Data

- Category: indicated
- Tonnes: 8193000000
- Grade: 0.18
- Grade Unit: g/t
- Contained Metal: 48.2
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: Gold is reported as a secondary commodity within the resource estimate.

Evidence · text

> 48.2 million ounces \("Moz"\) gold ... \(8,193 million tonnes \("Mt"\) at ... 0.18 g/t Au

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**No QP/CP Disclosure**

Polarity: negative

Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.

Why it applies: no Qualified or Competent Person is named anywhere in the release

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lundin-mining-increases-m-i-copper-mineral-resources-by-37-and-updates-mineral-r--8701492b-4ed3-4c70-b1af-c187cef95902#fact-resource-facts-2)

silver

#### Identity

- Commodity: silver
- Ticker: LUN

#### Resource scope

- Estimate type: resource
- Resource group id: resource:64c731588e03ce422ac7

#### Resource Data

- Category: indicated
- Tonnes: 8193000000
- Grade: 3.08
- Grade Unit: g/t
- Contained Metal: 812
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: Silver is reported as a secondary commodity within the resource estimate.

Evidence · text

> 812 Moz silver ... \(8,193 million tonnes \("Mt"\) at ... 3.08 g/t Ag

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**No QP/CP Disclosure**

Polarity: negative

Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.

Why it applies: no Qualified or Competent Person is named anywhere in the release

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.