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Lundin Mining ( (TSE:LUN) ) has provided an update.
Lundin Mining has agreed to acquire an additional 5% stake in Chile’s Caserones copper-molybdenum mine and a 30.9% interest plus a small NSR royalty in the nearby Los Helados copper-gold project from JX Advanced Metals for US$215 million, lifting its ownership in Caserones to 75%. The deal immediately boosts Lundin’s attributable copper production and cash flow, adds significant copper, gold and silver resources, and creates potential operating synergies between Caserones and Los Helados that reinforce the company’s growth strategy and positioning in the Vicuña District.
Los Helados, operated by NGEx Minerals, brings a large inventory of indicated and inferred mineral resources and is located just 17 km from Caserones, opening options to integrate higher-grade feed from Los Helados into existing infrastructure. By expanding its footprint and optionality in this emerging Chilean copper hub, Lundin Mining aims to improve financial returns, extend resource life and strengthen its role as a growing copper producer for stakeholders across the region.
More about Lundin Mining
Lundin Mining is a Canada-based diversified base metals producer focused on copper, operating open-pit and underground mines and processing facilities across the Americas and other regions. The company has been steadily increasing its exposure to Chile’s emerging Vicuña District, with a copper-dominant portfolio centered on long-life, low-cost assets such as the Caserones mine.
Learn more about LUN stock on TipRanks’ Stock Analysis page.