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Lundin Mining is a Toronto-headquartered diversified base-metals miner with producing operations in Chile (Candelaria, Caserones) and Brazil (Chapada), plus the Josemaría copper-gold project under development in Argentina. It divested its US nickel-copper operation, Eagle Mine (Michigan), to Talon Metals Corp.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 8 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Sandstorm Gold Ltd.'s FY2024 AIF (EX-99.1): in October 2015 Sandstorm entered a copper stream with Yamana Gold Inc. on the Chapada Mine (Brazil) -- 'the Company agreed to purchase an amount of copper from the Chapada Mine equal to: 4.2% of the copper produced (up to an annual maximum of 3.9 million pounds), until the Chapada Mine has delivered 39.0 million pounds of copper to the Company' (stepping down to 3.0% then 1.5% at higher cumulative-delivery thresholds per the same stream), paying 'ongoing payments for each pound of copper received under the Copper Stream equal to 30% of the spot price per pound of copper'. Yamana sold the Chapada Mine to Lundin Mining Corporation on 2019-07-05; the AIF confirms 'The Company's rights under the Copper Stream remain intact' and separately notes Chapada produced 43,261t copper and ~65,000oz gold in calendar 2024 (citing Lundin's own 2025-02-19 production announcement). Copper is this dossier's dominant scored material.
Franco-Nevada's FY2025 AIF/40-F (year ended 2025-12-31; this is the company's year-end disclosure notice of that filing — the original SEC exhibit URL, sec.gov/Archives/edgar/data/1456346/000110465926032133/fnv-20251231xex99d1.htm, now returns 403 to automated fetches): on 2014-10-06, LMC Bermuda Ltd. (a Lundin Mining subsidiary), Franco-Nevada and Franco-Nevada Barbados Corporation entered the Candelaria stream agreement for an upfront deposit of $648.0 million. The stream covers 68% of payable gold and silver from the Candelaria Copper Mining Complex (Lundin Mining 80% / Sumitomo Corporation 20%), stepping down to 40% in H2 2027. Franco-Nevada buys Lundin's Candelaria silver (and gold) at a fixed per-ounce price — the streaming-company equivalent of a customer. Step-down terms re-confirmed 2026-09-19 against independent reporting. Silver is one of this dossier's scored materials; gold is not.
Compañía Contractual Minera Candelaria (Candelaria complex, Copiapó, Atacama, Chile; Lundin 80%) audited FY2025 IFRS statements filed with Chile's CMF (SARYT royalty registry), Note 12 related-party transactions: 'Sumitomo Metal Mining | Shareholder | Sales of copper concentrates | 635,014 | 473,783' (ThUS$, 2025 | 2024), i.e. US$635.0m in 2025 and US$473.8m in 2024. Note 29 long-term offtake: SMM takes 24% of Candelaria's estimated annual concentrate production. SMM's only copper smelter is Toyo Smelter & Refinery (Ehime, Japan).
Compañía Contractual Minera Candelaria (Candelaria complex, Copiapó, Atacama, Chile; Lundin 80%) audited FY2025 IFRS statements filed with Chile's CMF (SARYT royalty registry), Note 12 related-party transactions: 'Pan Pacific Copper Co | Common Shareholder | Sales of copper concentrates | 112,389 | 117,780' (ThUS$ 2025 | 2024). Also Caserones (SCM Minera Lumina Copper Chile, Atacama, Chile; Lundin 70%) FY2025 CMF statements Note 7 (image scan), https://www.cmfchile.cl/institucional/mercados/ver_archivo.php?archivo=/web/seil/saryt/sinvalidar/royalty_202512_99531960_bal_i_20260325_153030.pdf (image scan, not text-searchable, so paraphrased not quoted) lists Pan Pacific Copper Co., Ltd. as common parent with sales of copper cathodes and concentrate of ThUS$372,595 (2025) and ThUS$432,308 (2024), where JX Advanced Metals Corporation is listed as Parent (2023: 1,081,117 per FY2024 statements). PPC is JX's copper-smelting subsidiary; its smelters (Saganoseki, Oita; Hibi, Tamano) are in Japan.
Compañía Contractual Minera Candelaria (Candelaria complex, Copiapó, Atacama, Chile; Lundin 80%) audited FY2025 IFRS statements filed with Chile's CMF (SARYT royalty registry), Note 12 related-party transactions: 'Mitsubishi Materials Corporation | Common Shareholder | Sales of copper concentrates | 75,744 | 57,479' (ThUS$ 2025 | 2024), i.e. US$75.7m in 2025. MMC's copper smelters (Naoshima; Onahama) are in Japan.
Compañía Contractual Minera Candelaria (Candelaria complex, Copiapó, Atacama, Chile; Lundin 80%) audited FY2025 IFRS statements filed with Chile's CMF (SARYT royalty registry), Note 12 related-party transactions: 'Jinlong Copper Co., Ltd | Common Shareholder | Sales of copper concentrates | 88,630 | 86,270' (ThUS$ 2025 | 2024), i.e. US$88.6m in 2025. Jinlong Copper is a single-site copper smelter in Tongling, Anhui, China (a Tongling Nonferrous group smelter with Sumitomo participation; parent share not asserted here).
Compañía Contractual Minera Candelaria (Candelaria complex, Copiapó, Atacama, Chile; Lundin 80%) audited FY2025 IFRS statements filed with Chile's CMF (SARYT royalty registry), Note 12 related-party transactions: 'Sumitomo Corporation | Shareholder | Sales of copper concentrates | 32,465' (ThUS$ 2025; nil 2024); Note 29 offtake of 6% of estimated annual production. Trading house: destination not stated.
Lundin AIF (19 Feb 2025): 'All of the copper concentrates from the Eagle Mine are transported by rail and sold to a smelter in Canada.' Eagle Mine / Humboldt Mill are in Michigan (US), hence US>CA. The AIF does not name the smelter; Glencore's Horne Smelter (Rouyn-Noranda, Quebec) is identified by elimination as Canada's only copper smelter (https://en.wikipedia.org/wiki/Horne_Smelter), and an older rail-traffic account names Eagle copper concentrate going to Glencore Rouyn-Noranda (http://vanderheide.ca/blog/2015/08/14/freight-car-friday-47/) -- hence confidence secondary. Eagle was sold to Talon Metals in Jan 2026; Talon says only that concentrates go to North American smelters.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
Another tracked dossier names this company as a counterparty in its own sourced disclosure — this platform never wrote these rows on this company's own page, they are read here inverted from the dossier that disclosed them. This is a partial view: 982 additional named-counterparty rows across the corpus could not be matched to a tracked dossier by name at all (mostly non-Latin legal names), so the true count is higher than what renders here.
Candelaria's audited FY2025 CMF statements (Note 12, related-party transactions) list sales of copper concentrates to Jinlong Copper Co., Ltd. of US$88.6m in 2025 (US$86.3m in 2024), flagged as related-party via a common shareholder (Sumitomo Metal Mining / Sumitomo Corporation hold stakes in both Candelaria and Jinlong). Does not state Jinlong's total concentrate spend, so no share_pct given.
Scope. This section is inverted evidence: each linked dossier wrote the original row about itself, describing its own relationship to this company. It is never a claim this company itself disclosed. Absence here is not evidence of no relationship — most of the corpus has no named-counterparty block at all yet.
This company sits on the supply side for 2 of its 2 materials — a restriction on those is a tailwind, not a headwind.
As a producer, policy pressure across its produced materials is flat.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
🇦🇷 AR accounts for 100% of severity-weighted pressure.