Lundin Gold Company Profile

Lundin Gold


Company Exposure


Company Listing

Lundin Gold

Stock Code

TSX and Nasdaq Stockholm: LUG

Company Overview

Lundin Gold, headquartered in Vancouver, Canada, is developing its wholly-owned Fruta del Norte gold project in southeast Ecuador. Fruta del Norte is one of the world’s highest-grade and largest gold projects currently under construction, with reserves of 5 million ounces grading 9.2 g/t gold. The Company’s board and management team have extensive expertise in mine construction and operations, and are dedicated to advancing this project through to first gold production in 2019. Lundin Gold believes that the value created through the development of Fruta del Norte will benefit its shareholders, the Government and the people of Ecuador.


  • WORLD-CLASS ASSET – Fruta del Norte is a large, high-grade gold deposit within a major mineralized trend
  • FUNDED TO PRODUCTION – Project funding substantially completed, based on current estimates
  • EXPERIENCED TEAM – Management and project team with extensive mine construction and operating experience
  • NEW MNIING JUSRISDICTION – Ecuador mining industry maturing
  • COMMITTED TO BUSINESS SUSTAINABILITY – Mining can be a catalyst for sustainable economic development
  • CONSTRUCTION UNDERWAY – Mine development is on track
  • ONE OF THE NEXT PRODUCERS TO COME ONLINE – First gold expected in Q4 2019

  • Mining Ministry to be combined with Oil and Energy Ministry, creating a powerful economic ministry
  • Local communities support the Fruta del Norte gold project
  • Exploitation and Investment Protection Agreements signed in 2016
  • Lundin Gold has major permits in place
  • More than 30 companies active in Ecuador

Live Financials

Latest Announcements

Share Price Performance


Ron F. Hochstein – President, CEO & Director
Alessandro Bitelli – Executive Vice President, CFO
Sheila Colman – Vice President, Legal and Corporate Secretary
David Dicaire – Vice President, Projects
Nathan Monash – Vice President, Business Sustainability
Iliana Rodriguez – Vice President, Human Resources
Chester See – Vice President, Finance

Major Shareholders

Newcrest Mining Limited 27.1%
Zebra Holdings/Lorito Holdings 22.3%
Orion Mine Finance 11.4%
Kinross 9.7%
CD Capital 5%
Kopernik Global 2.79%
Mackenzie Financial 1.64%
Invesco Canada 1.26%


  • First gold expected fourth quarter of next year
  • 15 Year mine life based on current probable reserves of 5 million ounces grading 9.2 g/t gold
  • Projected to be in the top tier of gold producers, on a production and cost basis, when in commercial production
  • Average annual gold production during first 11 years expected to exceed 300,000 ounces per year
  • All-in sustaining cost of US$609 per ounce

1. See Lundin Gold news release dated May 30, 2017
2. See “Project Update” in the Annual Information dated March 20, 2018
3. S&P Global Intelligence, 2016 Top Producing Projects – Gold


  • Over 1km of underground mine development has been achieved
  • All major process plant equipment packages awarded
  • Detailed engineering 26% complete and construction 16% complete at the end of March
  • Process plant construction well underway with SAG and ball mill foundation bases poured
  • Powerline contractor on track to begin building the 42km, 320 kilovolt powerline in Q2 2018
    • Power line will connect Fruta del Norte to the national power grid
  • Site logistics significantly improved with completion of internal roads
    • Additional road construction underway and will connect Fruta del Norte with the national highway system

Lundin Gold is Committed to Business Sustainability

  • There is strong community support for the development of Fruta del Norte
  • Approximately 50% of Lundin Gold staff at site are from local communities
  • Ongoing engagement with a wide range of stakeholders via:
    • Community risk roundtables
    • Frequent community meetings
    • Open door policy
    • Community assemblies
  • Local procurement strategy in place
  • Community investment focuses on:
    • Community infrastructure
    • Strengthening existing local economic activity through local value chains and local procurement

Contact Details



PHONE: +1-604-689-7842

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