05:59 AM EST, 02/13/2025 (MT Newswires) -- Lundin Mining ( LUNMF ) late on Wednesday said its estimated proven and probable mineral reserve of contained copper rose 242 kilotonnes to 10,872 kilotonnes from the previous year as it reported its mineral resource and mineral reserve estimates as of Dec. 31, 2024.

Lundin Mining's ( LUNMF ) proven and probable mineral reserves in other base and precious metals include 2,429 kilotonnes of zinc, 42 kilotonnes of nickel, 14.3 million ounces of gold and 282 million ounces of silver.

Net revisions are primarily the result of exploration additions at the Candelaria operation, offset by cost input updates at the Caserones operation.

"Throughout the year, we successfully offset mine depletion and replaced reserves associated with the pending sale of our European assets, driven by a combination of the Filo acquisition and continued success from conversion drilling," said Lundin President and CEO Jack Lundin.

The sale of Lundin's European assets to Boliden is scheduled to close in mid-2025. The Filo acquisition was completed on Jan. 15.