Highlights

  • Lundin Mining’s total outstanding shares decreased by 823,459 during May 2025, bringing the total to approximately 855.8 million.
  • The reduction reflects share repurchases under its normal course issuer bid (NCIB) and was partially offset by employee equity awards.
  • The company has repurchased 12.6 million shares in 2025 at an approximate cost of USD 104 million.

 Lundin Mining Corporation (TSX:LUN) is a base metals mining company with operations and projects across the Americas. The company’s asset portfolio includes production of copper, nickel, and gold, with active sites or projects located in Argentina, Brazil, Chile, and the United States. The company is dual-listed and subject to disclosure obligations under both Canadian and Swedish securities frameworks.

The company has released an update regarding its share capital and voting rights in accordance with Sweden’s Financial Instruments Trading Act. As of May 30, 2025, the company’s total number of issued and outstanding common shares stood at 855,818,634, a net decrease of 823,459 shares compared to April 30, 2025.

The change in the number of outstanding shares is primarily the result of share repurchases conducted under the company’s normal course issuer bid (NCIB) program. The reduction was partially offset by the issuance of shares tied to the exercise of employee stock options and the vesting of employee share units.

Under its current shareholder distribution policy, Lundin Mining has committed to allocating up to USD150 million annually toward share buybacks. As part of this initiative, the company has repurchased 12,629,000 shares during 2025 at a cumulative cost of approximately USD 104 million. The NCIB enables the company to repurchase a portion of its own shares in the open market, which can result in a reduction of the number of shares outstanding and, in some cases, can influence earnings per share.

The reduction in shares outstanding and changes to voting rights were formally recorded as of May 30, 2025, and reported in line with Swedish regulatory requirements.  As part of its broader financial strategy, Lundin Mining continues to engage in shareholder-focused capital allocation initiatives, including buybacks and equity-based compensation. The NCIB program is one of the tools used to manage its capital structure in line with market conditions and operational objectives.

The most recent update provides shareholders and market participants with current information on the company’s capital base and helps ensure transparency around changes to its equity structure resulting from share buybacks and employee compensation programs.