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Lundin Mining ( (TSE:LUN) ) just unveiled an update.
Lundin Mining has completed the sale of its subsidiary holding the Eagle mine and Humboldt mill to Talon Metals, receiving 275.2 million Talon shares valued at about US$127 million and increasing its ownership to roughly 19.86% of Talon on a non-diluted basis. The deal transforms Lundin Mining into a pure-play copper company, sharpening its strategic focus on expanding copper production and advancing its Vicuña District project, while maintaining a significant investment and governance rights in Talon through board nomination, anti-dilution protections and a lock-up agreement, aligning both companies’ interests and potentially enhancing long-term value for stakeholders.
More about Lundin Mining
Lundin Mining is a Canadian mining company headquartered in Vancouver with three operating mines in Brazil and Chile, producing metals that support modern infrastructure and electrification. The company is strategically focused on becoming a top-10 global copper producer, anchored by a 50% interest in a major copper-gold-silver development in the Vicuña District on the Argentina–Chile border, and its shares are listed in Toronto and on Nasdaq Stockholm.
For an in-depth examination of LUN stock, go to TipRanks’ Overview page.