节点：中游（冶炼、中间品）位置：中游情绪：利好参考度：4/10
加拿大伦丁矿业2025年铜产量超预期，2026年产量将进一步提升，核心驱动为智利业务的强劲表现。其中，卡塞罗内斯矿12月铜产量超1.5万吨，创2023年收购以来最佳月度业绩，全年总产量13.2881万吨，高于预期；坎德拉里亚矿区2025年铜产量14.5471万吨，得益于矿石硬度提升带动选矿厂处理量增加。公司第四季度铜产量超8.7万吨，黄金产量超3.4万盎司，助力全年铜产量达成修订后的目标。拉丁美洲三家矿区全年运营业绩均保持强劲，总裁兼首席执行官杰克·伦丁表示，公司近期及中期前景稳固，矿山开采顺序调整预计2026至2027年实现铜产量净增1.5万吨，2027年新增约2万吨产量...000吨的调整抵消。
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