Lundin Gold receives Ecuador tax assessment over 2023 sovereign adjustment worth USD 154 million
Reuters2026/09/09 06:06- Lundin Gold received a tax assessment from Ecuador’s SRI over the 2023 sovereign adjustment calculation tied to the Fruta del Norte mine.
- The assessment proposes USD 73 million payable, with potential fines and penalties of USD 81 million, totaling USD 154 million excluding interest.
- Management disputes the calculation, citing a misinterpretation of methodology under its Exploitation Agreement and related investment protection framework.
- Operations, guidance, expansion plans, and capital returns remain unchanged while the company pursues resolution through formal channels.
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