06:40 AM EDT, 04/18/2024 (MT Newswires) -- Lundin Mining ( LUNMF ) , which rose 2.7% yesterday, overnight Wednesday listed items it said will affect first-quarter earnings and adjusted earnings that are scheduled to be reported on May 1.

The items include unaudited foreign exchange and trading gains on debt and equity investments, unaudited realized gains on foreign exchange and diesel derivative contracts of about $4 million, and unaudited realized gains on foreign exchange of about $11 million, primarily relating to payments in Chilean pesos.

The company also expects to recognize certain non-cash items that will impact earnings but not adjusted earnings. These items include an unaudited non-cash unrealized gain on foreign exchange of around $16 million primarily due to the weakening of the Chilean peso and an unaudited non-cash unrealized loss of roughly $53 million related to the mark-to-market valuation of the company's unexpired foreign exchange and diesel derivative contracts.

Unexpired foreign exchange derivative contracts include zero cost collar contracts of $921 million, equivalent to 898 billion Chilean pesos, entered into during the first quarter and expiring in the remainder of 2024 through 2026.

First-quarter revenue is expected to be positively affected by unaudited provisional pricing adjustments on prior period concentrate sales of about $2 million on a pre-tax basis. These include upward adjustments in relation to copper and nickel sales, partly offset by downward adjustments on molybdenum and zinc sales.