Lundin Mining Corporation

Good morning, ladies and gentlemen, and welcome to London Mining Q2 2024 financial results and webcast conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, July 31st, 2024. I would now like to turn the conference over to Jack London. Please go ahead.

Welcome, everyone, and thank you for joining Lundin Mining's second quarter conference call. For those that were on our corporate update call on Tuesday, where we announced the joint acquisition of Philo with BHP, thank you for joining today as well. Yesterday, after market close, we reported our operating and financial results for Q2. The press release and presentation are available on our website under our investor section. All figures presented today are in U.S. dollars, unless otherwise noted. Before we start the presentation, I would like to remind our listeners that the call may contain forward-looking information, and this information by its nature is subject to risks and uncertainties. As such, actual results may differ materially from the views expressed today. I would encourage you to read the cautionary note that accompanies our second quarter MD&A, along with the relevant filings on CDAR. These documents are also available on our website. Today with me on the call are three other members of our senior executive team. Cider Polson, our Executive Vice President and CFO, Juan Andres Morel, our Executive Vice President and COO, and Nathan Monash, our Vice President of Sustainability. Briefly, before we get into the Q2 results, I wanted to highlight the transaction we announced yesterday. We look forward to working with BHP and embarking on this multi-decade partnership to develop the Vicuña district in Argentina. This transaction transforms our growth profile and solidifies our belief that the district has the potential to be world-class in both scale and quality. For anyone that missed yesterday's conference call, there is a replay available on our website, and I encourage you to listen to it and get the full overview of the highlights of the acquisition and partnership. now into Q2 2024. Quarterly copper production for the company was 80,000 tons. As we have previously discussed, our copper production profile is weighted to the second half of the year, and we expect to see higher grades and throughput in Q3 and Q4 at Candelaria that will drive the production. We're still on track to meet our annual copper guidance, which is between 366,000 to 400,000 tons. 47,000 tons of zinc and 32,000 ounces of gold were produced in the quarter. Operationally, the quarter was affected by unscheduled maintenance and lower mining rates that impacted production at several of our sites. Nickel production at Eagle was impacted by additional ramp rehabilitation work that limited ore production from Eagle East. We have had to revise guidance at Eagle for the remainder of the year. After the quarter, we exercised our option to increase our ownership in Casaronas to 70%, further enhancing our presence in the region and strengthening our overall copper-dominant portfolio of high-quality base metal mines. We had a very strong financial performance this quarter with the increase in commodity prices and generated $461 million in adjusted EBITDA and $338 million in free cash flow from operations. This quarter, we announced our regular quarterly dividend of $0.09 Canadian per share, which makes up part of the annualized dividend of $0.36 Canadian per share. In addition, we released our annual 2023 sustainability report that highlights the company's material, environmental, health and safety, governance and social performance during the year. We are committed to the responsible production of critical minerals and believe that mining can be a platform for sustainable development. I will now hand the call over to Nathan Monash, our VP of Sustainability, to talk about the highlights from the report before going into the results of the quarter.

Thank you, Jack. Earlier this month, we published our 2023 Annual Sustainability Report, which reports on our efforts over the last year to address material sustainability topics and further integrate our sustainability strategy into Lundi mining's plans for growth. Sustainability is key to who we are as a company, and this report highlights our commitment to creating shared value. As many of our long-term shareholders are aware, Mooney Mining has been reporting on our sustainability performance in a standalone document since 2010, demonstrating our commitment to transparency and responsible mining. We are proud to highlight that we achieved the copper mark certification at Candelaria and Casarones, which are the leading global assurance framework for sustainability performance in the copper industry. I would also like to note that we have continued to reduce our greenhouse gas emissions through new power purchase agreements from renewable resources. We continue to make progress on our decarbonization plans and to achieve our goal of a 35% reduction by 2030 versus our 2019 baseline. We also continue to work with host communities 2023 to address common objectives in education, health, culture, and economic development. Our investments in 2023 totaled approximately $6.1 million. For a complete list of highlights, I would encourage everyone to go through the report. It can be found on our website under the sustainability section. I will now pass the call over to Juan Andres, our Chief Operating Officer, to talk about our production results.