KEY POINTS
- Fruta del Norte produced a record 153,736 ounces of gold in the third quarter of 2026.
- Lundin Gold sold 148,326 ounces at an average realised price of $4,299 per ounce.
- The company targets full-year production of 475,000 to 525,000 ounces, with most delayed sales expected in the fourth quarter.
Lundin Gold’s Fruta del Norte mine in Ecuador has achieved its highest-ever quarterly gold production, putting the Canadian mining company in a strong position to meet its 2026 production target.
The mine produced 153,736 ounces of gold in the third quarter ended September 30, 2026, supported by higher ore grades and record processing volumes.
Fruta del Norte’s third-quarter performance marked the strongest production quarter in the mine’s history, reflecting improved operating performance and increased volumes of ore processed.
The mine processed 535,711 tonnes of ore during the quarter, averaging 5,823 tonnes daily. The ore had an average gold grade of 10.1 grams per tonne, while the processing plant achieved a recovery rate of 88.3%.
These operating results helped lift the mine’s total gold production to 392,472 ounces in the first nine months of 2026.
Lundin Gold, headquartered in Vancouver, Canada, expects the strong performance to support its full-year production target of between 475,000 and 525,000 ounces.
President and CEO Jamie Beck said record quarterly throughput and higher ore grades were the main drivers of the mine’s performance.
He added that the company was well positioned to achieve its annual production guidance following the strong results.
Gold sales rise in value
Lundin Gold sold 148,326 ounces of gold in the third quarter of 2026 at an average realised price of $4,299 per ounce.
This represented an increase from the 124,911 ounces sold in the corresponding period of 2025, when the average realised price was $3,634 per ounce.
The higher sales volume and stronger realised price indicate that the company generated more revenue from gold sales during the quarter, although the figures provided do not specify total quarterly gold revenue.
The difference between the average realised prices also reflects the higher price at which the company sold its gold in the third quarter of 2026 compared with the same period last year.
Despite its record production, Lundin Gold sold 374,019 ounces of gold in the nine months to September 30, 2026, compared with 379,289 ounces during the corresponding period of 2025.
The decline in year-to-date sales occurred even as production increased, with the company attributing the difference to the timing of gold sales.
Beck said sales had lagged behind production during the year and that the company expected to sell most of the outstanding ounces in the fourth quarter.
Lundin Gold’s strong third-quarter performance provides a solid foundation for meeting its 2026 production guidance.
With 392,472 ounces produced in the first nine months, the company needs to produce between 82,528 and 132,528 additional ounces in the fourth quarter to reach its annual target of 475,000 to 525,000 ounces.
The record quarterly output demonstrates the mine’s capacity to deliver higher production, while the expected fourth-quarter sales will be important in converting accumulated output into completed gold sales.
