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New data presented at the 2025 European AIDS Clinical Society (EACS) Congress suggest that a once-weekly oral regimen combining islatravir and lenacapavir could mark a major advance in HIV treatment convenience. Findings from a Phase 2 trial (NCT05052996) showed that people with HIV-1 who switched from daily antiretroviral therapy to this weekly two-drug regimen maintained full viral suppression through 96 weeks, with no cases of virologic failure or drug resistance.

The study enrolled adults who were already virologically suppressed on a standard daily combination of bictegravir, emtricitabine, and tenofovir alafenamide. Participants were randomised to continue daily therapy or to switch to once-weekly islatravir 2 mg plus lenacapavir 300 mg. Of the 52 participants who began the once-weekly regimen, 47 continued into the 48-week extension phase, completing nearly 2 years of follow-up.

At 96 weeks, all participants on the islatravir-lenacapavir combination maintained undetectable viral loads, and mean adherence-assessed by pill count was 99.3%. No emergent resistance to either agent was observed, and safety data remained favourable throughout the study period.

Safety and Tolerability Comparable to Standard Therapy

Treatment with the once-weekly regimen was well tolerated. Just under one in five participants (19.2%) experienced mild or moderate drug-related side effects, and no severe adverse events related to treatment were reported. Two participants discontinued the study, though neither due to drug-related effects.

CD4+ T-cell counts showed minimal changes, with a mean decrease of 33 cells/μL (95% CI: −86 to 20), while median weight and BMI remained stable over 2 years. The consistent efficacy, safety, and adherence profile suggest that weekly oral dosing could provide a simpler alternative for people living with HIV who wish to avoid daily tablets or injectable regimens.

Phase 3 Trials Now Underway

The promising Phase 2 results underpin ongoing global Phase 3 trials (ISLEND-1 and ISLEND-2) which aim to confirm the efficacy and safety of once-weekly oral islatravir plus lenacapavir as a complete regimen for HIV-1. If successful, this would represent the first fully oral, once-weekly treatment option for people living with HIV.

Researchers at EACS 2025 emphasised that such simplified dosing could improve quality of life and adherence, supporting long-term viral suppression and reducing treatment fatigue among patients.

By Ada Enesco

Reference

Colson AE et al. Oral weekly islatravir plus lenacapavir in virologically suppressed people With HIV-1: 96 week outcomes from a phase 2 study. PS15.5.LB. EACS 2025, 15-18 October, 2025.

 

Lundin Mining Pre-Announces Items Impacting the Third Quarter 2025 Results

October 16, 2025

VANCOUVER, BC, Oct. 16, 2025 /CNW/ –  (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) is pre-announcing certain items impacting the Company’s earnings, adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”)¹, adjusted earnings¹ and adjusted earnings per share¹ for the three months ending September 30, 2025. Unless otherwise stated, dollar amounts are presented in United States dollars.

Revenue and Provisional Pricing Adjustments

Revenue in the third quarter 2025 is expected to be positively impacted by unaudited provisional pricing adjustments on prior period concentrate sales of approximately $11 million on a pre-tax basis. These adjustments primarily include upward adjustments in relation to prior period copper and gold sales.

Revenue in the third quarter 2025 is also expected to be impacted by a timing difference between the production and shipment dates of approximately 20,000 tonnes of copper concentrate (approximately 5,100 tonnes of contained payable copper). A shipment of copper concentrate from Caserones scheduled for September was delayed into October due to weather related issues. The related revenue and cost of goods sold are expected to be recorded in the fourth quarter 2025.

Foreign Exchange and Derivatives

Unaudited realized foreign exchange gains and unaudited realized losses on derivative contracts in the third quarter 2025 are not expected to be significant.

In the third quarter 2025 the Company is expected to recognize certain non-cash items that will impact the Company’s earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share. These include an unaudited unrealized loss of approximately $26 million on a pre-tax basis related to the mark-to-market valuation of the Company’s unexpired derivative contracts, primarily due to rising gold prices during the quarter. Unaudited unrealized foreign exchange gains are not expected to be significant.

Third Quarter 2025 Results Conference Call and Webcast Details

The Company will release its third quarter 2025 operations and financial results after market close on Wednesday, November 5, 2025, and will hold a webcast and conference call on Thursday, November 6, 2025 to present the results. Webcast and conference call details are provided below.

Webcast / Conference Call Details:

Date: Thursday, November 6, 2025

Time: 7:00 AM PT | 10:00 AM ET

Listen Only Webcast: WEBCAST LINK

Dial In for Investor & Analyst Q&A: DIAL IN LINK

To participate in the call click on the dial in LINK above and complete the online registration form. Once registered you will receive the dial-in information and a unique PIN to join the call and ask questions.

A replay of the webcast will be available by clicking on the webcast LINK above and will be archived on the Company’s website for a limited period of time.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, and the United States of America, primarily producing copper, gold and nickel.

The information was submitted for publication, through the agency of the contact persons set out below on October 16, 2025 at 16:30 Pacific Time.

Cautionary Statement on Forward-Looking Information

Certain of the statements made and information contained herein are “forward-looking information” within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company’s financial results, impacts thereto and the accounting therefor. Words such as “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “goal”, “aim”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “can”, “could”, “should”, “schedule” and similar expressions identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, gold, zinc, nickel and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions and the realization of synergies and economies of scale in connection therewith; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management’s experience and perception of current conditions and expected developments, such information is inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: dependence on international market prices and demand for the metals that the Company produces; political, economic, and regulatory uncertainty in operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; risks relating to mine closure and reclamation obligations; health and safety hazards; inherent risks of mining, not all of which related risk events are insurable; risks relating to tailings and waste management facilities; risks relating to the Company’s indebtedness; challenges and conflicts that may arise in partnerships and joint operations; risks relating to development projects; risks that revenue may be significantly impacted in the event of any production stoppages or reputational damage in Chile; the impact of global financial conditions, market volatility and inflation; business interruptions caused by critical infrastructure failures; challenges of effective water management; exposure to greater foreign exchange and capital controls, as well as political, social and economic risks as a result of the Company’s operation in emerging markets; risks relating to stakeholder opposition to continued operation, further development, or new development of the Company’s projects and mines; any breach or failure information systems; risks relating to reliance on estimates of future production; risks relating to litigation and administrative proceedings which the Company may be subject to from time to time; risks relating to acquisitions or business arrangements; risks relating to competition in the industry; failure to comply with existing or new laws or changes in laws; challenges or defects in title or termination of mining or exploitation concessions; the exclusive jurisdiction of foreign courts; the outbreak of infectious diseases or viruses; risks relating to taxation changes; receipt of and ability to maintain all permits that are required for operation; minor elements contained in concentrate products; changes in the relationship with its employees and contractors; the Company’s Mineral Reserves and Mineral Resources which are estimates only; payment of dividends in the future; compliance with environmental, health and safety laws and regulations, including changes to such laws or regulations; interests of significant shareholders of the Company; asset values being subject to impairment charges; potential for conflicts of interest and public association with other Lundin Group companies or entities; activist shareholders and proxy solicitation firms; risks associated with climate change; the Company’s common shares being subject to dilution; ability to attract and retain highly skilled employees; reliance on key personnel and reporting and oversight systems; risks relating to the Company’s internal controls; counterparty and customer concentration risk; risks associated with the use of derivatives; exchange rate fluctuations; the terms of the contingent payments in respect of the completion of the sale of the Company’s European assets and expectations related thereto; and other risks and uncertainties, including but not limited to those described in the “Risks and Uncertainties” section of the Company’s MD&A for the three and six months ended June 30, 2025 and the “Risks and Uncertainties” section of the Company’s Annual Information Form for the year ended December 31, 2024, which are available on SEDAR+ at www.sedarplus.ca under the Company’s profile.

All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

SOURCE Lundin Mining Corporation

For further information, please contact: Stephen Williams, Vice President, Investor Relations: +1 604 806 3074; Robert Eriksson, Investor Relations Sweden: +46 8 440 54 50

Interpretation II on the Application of Law in the Trial of Labor Dispute Cases by the Supreme People’s Court of the People’s Republic of China came into effect on 1 September, with the aim of unifying China’s legal framework and offer consistent guidance for handling labour disputes nationwide.

The primary objective of Interpretation II is to promote stability in labour relations and the broader market, while striking a fair balance between the rights and obligations of employers and their employees. However, some provisions do not fully align with local approaches, so employers should closely monitor legislative developments and judicial trends in the provinces and cities in which they operate. They should also proactively review their own HR policies to ensure compliance with the best practices indicated by the Supreme People’s Court.

Multi-entity employment within affiliated enterprises 

Interpretation II clarifies that when an employee works for multiple affiliated entities, whether alternately or concurrently, without a written labour contract, courts may recognise the existence of a labour relationship based on the actual conduct of both the entities and the employee.

This assessment may include, but is not limited to, factors such as working hours, job responsibilities, wage payments and social insurance contributions. Additionally, courts may support claims requiring affiliated entities to jointly bear responsibility for wages and benefits, unless a valid agreement has been established between the employee and the affiliated entities that clearly allocates these obligations. 

Foreign nationals with permanent residency

Interpretation II affirms that foreign nationals with permanent residency in China can establish labour relationships with PRC employers without the need for a separate work permit.

This aligns with recent practices adopted by the national immigration administration and human resources authorities. However, it is important to note that the Ministry of Public Security retains the authority to revoke permanent residency under certain circumstances, which could affect the individual’s eligibility for employment in China. 

Consequences of non-payment of social insurance

Under applicable laws, employers who fail to pay social insurance contributions are not only required to make retroactive payments, but may also face claims from employees for losses related to social insurance benefits. In addition, employees are entitled to terminate a labour contract on the basis of an employer’s failure to pay social insurance contributions, and to seek severance compensation. 

In practice, some employers and employees enter into agreements to waive social insurance contributions, with employees instead receiving corresponding subsidies from the employer. However, disputes frequently arise when employees exit the company and pursue legal action for unpaid social insurance. Prior to the issuance of Interpretation II, the handling of such cases varied in local courts. In situations where an employee had explicitly agreed to waive social insurance contributions, some courts upheld the employee’s right to terminate the contract and claim severance, while others rejected this type of claim on the grounds that it violated the principle of good faith. 

Interpretation II explicitly states that any agreement or waiver by an employee regarding the non-payment of social insurance is invalid. Employees retain the right to terminate the labour contract and claim severance compensation, however, if the employer subsequently fulfills its legal obligation by making the required contributions, it may request the employee to return any social insurance subsidies previously received. This provision is intended to strike a fair balance between the rights and obligations of both employers and employees. 

Failure to sign written labour contracts

Under Interpretation II, if a written labour contract is not signed due to unexpected events preventing a party from fulfilling their contractual obligations, the employee’s intentional delay, gross negligence or other legally recognised circumstances, the employer is not liable for the statutory penalty of double wages. This aligns with prior judicial practice in many regions, where courts have exempted employers from penalties in cases where the employee deliberately avoided signing the contract, particularly when the employee held a senior management or HR position. 

The interpretation further clarifies that automatic contract extensions triggered by statutory circumstances, such as medical leave, maternity leave, agreed service periods or union duties, do not require the employer to re-execute a labour contract. 

Additionally, if an employee continues working after the contract has expired and the employer does not raise any objection within one month, the employee may request that the contract be renewed under the original terms. Once the renewed contract expires, the employee may further request the establishment of an open-ended labour contract. This provision expands the scenarios in which employers are obligated to offer open-ended contracts, representing a substantive shift from previous local practices. 

Overall, Interpretation II aims to prevent the abuse of labour rights while also raising employer standards around the entire process of labor contract execution and termination. 

Non-fixed term contracts and anti-evasion measures 

Interpretation II clarifies that the expiration of a second fixed-term contract will occur when: 

• the employer and employee agree to amend the contract, extending the contract term for a cumulative period of one year or more, and the extension subsequently expires; 
• the contract is automatically extended upon expiration, and the extension period expires;
• the employee continues working in the same role and location, but the employer changes the contracting entity while maintaining management over the employee; and
• there is any other conduct that violates the principle of good faith and is intended to circumvent the obligation to offer a non-fixed term contract. 

These provisions are designed to prevent employers from evading their statutory obligation to offer an open-ended employment contract after two consecutive fixed-term contracts. Notably, the first scenario relaxes previous requirements in some regions, where local courts deemed any extension as constituting a second fixed-term contract. This adjustment grants employers some flexibility before being required to offer a non-fixed term contract. 

Service period agreements with special benefits 

Interpretation II stipulates that when an employer provides special benefits beyond the regular salary and bonus scheme in exchange for a service period commitment, and the employee breaches the agreement without a lawful reason, the court may determine compensation based on actual losses, the degree of fault and the length of service already performed. 

Previously, employees were generally permitted to resign with 30 days’ notice, regardless of any service period commitment in the employment contract. Compensation for breaching a service period agreement was typically enforceable only if the employer had invested in training the employee, and that compensation was usually limited to the cost of training. 

Interpretation II expands the enforceability of service period agreements. In practice, employers often offer benefits such as household registration assistance, signing bonuses, housing, or equity incentives to attract and retain talent. However, due to the lack of clear legal provisions, enforcement of these agreements has previously varied across regions, and employers have often faced challenges when seeking to recover losses from employees who breach service period commitments. Interpretation II now provides a clear legal basis for employers to recover their losses in these circumstances. 

Scope and reasonableness of non-compete clauses 

Interpretation II provides that non-compete obligations do not apply to employees who have not accessed or been exposed to the employer’s trade secrets or intellectual property. These employees may challenge the validity of any non-compete agreement that they have signed. The scope, geographic coverage and duration of non-compete clauses must be proportionate to the employee’s actual exposure to confidential information and any excessive provisions will be deemed invalid. 

Courts are increasingly scrutinising the reasonableness of non-compete clauses, recognising that overly broad restrictions can significantly impact an employee’s ability to work. Interpretation II reinforces the need for tailored and proportionate clauses that protect legitimate business interests without unduly restricting employment rights. This development sets a higher standard for employers when drafting non-compete agreements. A brief and generic non-compete clause embedded within a standard employment contract may no longer be effective.

Proactive steps

Some provisions in Interpretation II may not fully align with existing local regulations or judicial practices in some regions. It is not yet clear which local authorities will revise their rules and practices to conform with the Supreme People’s Court’s guidance, or whether transitional arrangements will be introduced.

Until there is further clarity, employers should closely monitor legislative developments and judicial trends in their respective provinces and cities. By proactively aligning internal policies with these recommendations, employers can reduce the risk and cost of labour disputes by introducing preventive measures and management mechanisms.

Multi-employment and secondment

For employees working across multiple affiliated companies or on secondment, labour contracts should clearly specify the legal employer, the employee’s roles and responsibilities in respect of other entities, allocation of wage payments, social insurance and other employment obligations. 

Autorenewal and open-ended contracts

To manage risks related to automatic renewals and open-ended contracts, labour contracts should be signed before the employee’s start date. HR systems should be used to track contract start and end dates, extension periods, and the number of times contracts have been signed. 

Contract expiration

Automated alerts should be set two months prior to the expiration of a contract or any extension period, and employers should issue formal reminders to employees who refuse to sign. Automatic renewal clauses in employment contracts should be avoided, and all related communications should be retained. 

Invalidation of non-compete agreements

To avoid invalidation of non-compete agreements: 

• use standalone non-compete agreements for key personnel, such as executives, technical experts and sales leads, and avoid including broad, ‘one-size-fits-all’ non-compete clauses in standard employment contracts; 
• tailor the scope, geographic coverage, and duration of non-compete restrictions to the employee’s actual access to confidential information;
• retain evidence of the employee’s access to confidential information; and
• periodically review and update non-compete agreements to ensure their continued relevance and enforceability.
  Paying social insurance.

To manage the risks associated with failure to pay social insurance, employers should review historical agreements to identify whether there are any non-payment cases, understand the reasons for non-payment, assess the seriousness of the situation, and determine what agreements have been made with employees regarding such non-payment. Employers should also develop remedial plans for unpaid contributions to minimise future disputes.

Special benefits

When offering special benefits in exchange for a service period commitment, enter into a special agreement that clearly specifies any special benefits are offered as consideration for the employee’s commitment to a defined service period, and that such benefits constitute additional payments beyond regular salary and bonus. 

Breach of contract

Currently, ‘loss compensation’ is used as the solution for breach of contract. As a result, the company should retain relevant payment records and supporting documents to substantiate any actual losses incurred due to an employee’s breach.

British Gas’s parent company Centrica, Euro Garages and Holland & Barrett are among the latest companies named and shamed by the government for underpaying staff.

The Department for Business and Trade (DBT) has released a list of nearly 500 employers fined more than £10m for failing to pay the national minimum wage. It said 42,000 workers were repaid more than £6m.

Business Secretary Peter Kyle said: “I know that no employer wants to end up on one of these lists. But our Plan to Make Work Pay cracks down on those not playing by the rules.”

All three firms blamed past payroll problems for the underpayments and said all affected staff had been remunerated.

All the employers named on DBT’s list were fined up to double the total amount they owed to staff, some for underpayments dating as far back as 2013.

Paul Nowak, the TUC general secretary, said there was “no excuse for workers being cheated out of money they’re owed. It’s bad for workers, families and the economy.”

According to the government’s latest investigations between 2018 and 2023, Euro Garages, known as EG Group, is top of the list short-changing 3,317 of its workers by a hefty sum of more than £824,000.

The company, which was co-founded by billionaire brothers Mohsin and Zuber Issa but who have since stepped back from leading the firm, has significantly reduced its UK operations over the past year.

It sold its UK petrol forecourts business and Cooplands bakeries, but still runs some Starbucks franchise stores across the UK.

In a statement, an EG Group spokesperson said: “These historic payroll issues that took place between 2015 and 2019 have been fully rectified.

“All affected employees were subsequently reimbursed in full in agreement with HMRC.”

The firm said it improved its systems to make sure it complied with UK laws and maintained that it was committed to treating employees fairly.

Centrica, which owns British Gas, was eighth on DBT’s list having failed to pay £167,815 to 356 workers.

The energy giant recently bought one of the biggest liquefied natural gas (LNG) facilities in the UK for £1.7bn, extending the firm’s control of the country’s energy supplies.

A Centrica spokesperson said the company supported fair pay and pointed to technical faults in its payroll system between 2015 and 2019.

“This issue relates to a small number of historic technical errors which was put right as soon as it was identified.

“The total underpayment related primarily to salary sacrifice arrangements and training bonds, rather than take home pay, and was around £160,000 – our UK annual wage bill is currently around £1.2bn.”

High street retailer Holland & Barrett is next on the list after it failed to pay more than £153,000 to 2,551 workers.

In a statement, the company said past issues with minimum wage payments, between 2015 and 2021, had since been fixed in 2022.

“This was not a case of deliberate underpayment,” said a spokesperson.

“The issue stemmed from legacy practices such as requiring team members to wear specific shoes, unpaid training completed at home, and time spent preparing for shifts at our Burton distribution site.”

Holland & Barrett said it remained “committed to fair pay” and that it was paying store staff about 5% above the National Living Wage and follows all rules.

“While we respect the transparency of the scheme, we are disappointed that naming has occurred over three years after the matter was settled.”

The minimum wage for over 21s, known officially as the National Living Wage, is currently £12.21 an hour. Younger employees – aged between 16 and 20 – are entitled to receive the National Minimum Wage, which is set at £10 and hour.