Jamie Beck, President and CEO of Lundin Gold, joins Kitco Mining’s Paul Harris at the 2026 Mining Forum Americas in Colorado Springs to discuss how exploration success is extending the growth profile of Fruta del Norte in Ecuador.
FDN began mining in 2019 with about 5 million ounces of reserves. Since then, Lundin Gold has produced more than 3 million ounces and still holds roughly 6 million ounces in reserves. “This whole sort of structural district continues to surprise, and surprise to the upside,” Beck said.
Lundin holds a roughly 65,000-hectare land package, with exploration historically concentrated around the approximately 6,500-hectare La Zarza concession. The company is also studying an expansion from around 5,500 tonnes per day to 6,500–7,000 tonnes per day, aimed at sustaining roughly 500,000 ounces of annual production as grades normalize, with full operation targeted for 2028.
Beck also addressed the Sept. 8 sovereign adjustment assessment from Ecuador, characterizing the issue as a disagreement over the calculation and reaffirming Lundin’s commitment to investing in the country.
Beyond gold, Lundin expects an inaugural mineral resource for the Sandia copper-gold discovery around Q1 2027, adding another potential leg to its organic growth pipeline.
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00:42 - Corrada Dorada and FDN South Discovery Upside
02:03 - Three Exploration Goals at Fruta del Norte
03:34 - Funding Exploration While Returning Cash
04:31 - Reserve Growth and the Path Into the Mine Plan
06:00 - Expanding FDN From 5,500 to 6,500–7,000 TPD
06:26 - Costs, Power and Operating in Ecuador
08:50 - El Niño Risk and Backup Power
10:07 - Ecuador Sovereign Adjustment Dispute
12:37 - Copper Growth, Sandia Resource and M&A Optionality
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