Lundin Gold
Lundin Gold is a Canadian mining company headquartered in Vancouver, British Columbia, known for its high-grade Fruta del Norte gold mine in Ecuador.
Company Overview
Lundin Gold is a Canadian mining company headquartered in Vancouver, British Columbia. The company operates the 100 percent owned Fruta del Norte gold mine, situated in southeast Ecuador. The Fruta del Norte mine has been producing gold since late 2019 and is among the highest-grade operating gold mines globally. Lundin Gold acquired the Fruta del Norte project in late 2014 and achieved commercial production by February 2020.
Fruta del Norte Gold Mine
Fruta del Norte is the first large-scale gold mine in Ecuador, boasting probable reserves of 4.92 million ounces at an average grade of 8.7 grams per tonne gold. The mine's development began in July 2017, with the first gold poured in November 2019. Fruta del Norte’s high-grade production makes it a significant asset in Lundin Gold's portfolio.
Sustainability and Community Engagement
Lundin Gold is committed to sustainability and corporate social responsibility, with a 5-year sustainability strategy in place. The company has a goal of becoming carbon neutral by 2030 and operates under a Responsible Mining Policy, which includes publishing Sustainability Reports. Lundin Gold invests in local communities through education, skills training, and business development, and promotes the inclusion of vulnerable populations. The company also ensures communities have access to credible mechanisms for redress.
Stock Listings and Dividends
Lundin Gold's common shares are traded on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol 'LUG'. The company has declared quarterly dividends, with an anticipated quarterly cash dividend of approximately USD$0.10 per share. Lundin Gold emphasizes transparency and adherence to international best practices.
Partnerships and Initiatives
Lundin Gold actively participates in various global and regional initiatives. The company is involved in the 'Leaders for the SDGs' initiative of the United Nations Global Compact Ecuador, focusing particularly on SDG 5 'Gender Equality'. Lundin Gold is the first mining company in Ecuador to sign the Women’s Empowerment Principles (WEPS) and is a founding member of Women in Mining Ecuador, affiliated with Women in Mining International. Additionally, the company collaborates with the Lundin Foundation to enhance the impact of its investments.