However, comparison between the 2022 results and those of 2021 show a marked drop. Revenue in 2022 was C$3.04 billion, compared to C$3.33 billion in 2021. Net earnings last year were C$463.5 million (C$879.3 million in 2021); adjusted net earnings per share were C$0.63 (C$1.11 per share); and free cash flow from operations was C$381.4 million (C$1.05 billion in 2021).
Although copper, nickel and gold production reached guidance, zinc production did not. For 2023, Lundin has set guidance at 236,000 to 260,000 lb. of copper, 180,000 to 195,000 tonnes of zinc, 140,000 to 150,000 oz. of gold, and 13,000 to 16,000 tonnes of nickel.
Capital spending this year is to total C$1.10 billion. This includes C$400 million at the Josemaria in Argentina, plus sustaining capital of C$400 million at Candelaria (100% basis) in Chile, C$70 million at Chapada in Brazil, C$20 million at Eagle in the United States, C$130 million at Neves-Corvo in…
