Lundin Mining Secures $4.5 Billion Credit Facility to Advance Vicuña Project

Lundin Mining ( (TSE:LUN) ) has provided an announcement.

Lundin Mining has secured commitments from 17 lenders to upsize and amend its revolving credit facility to as much as $4.5 billion, extending its maturity to 2031 while keeping pricing unchanged on a leverage‑linked margin over adjusted SOFR. The facility will initially provide $2.25 billion, expand to $3.5 billion upon meeting certain conditions, and reach the full amount once Stage 1 of the Vicuña Project is sanctioned, significantly bolstering funding capacity for the project and general corporate needs.

Management said the enlarged facility is a key pillar in financing the Vicuña Project alongside partner BHP and supports Lundin’s strategy to lift annual copper output above 500,000 tonnes, reinforcing its ambition to rank among the world’s top copper producers. The additional liquidity, combined with a strong balance sheet, is expected to allow the company to fund its share of Vicuña while maintaining annual shareholder distributions of $220 million, signaling lender confidence in its asset base and offering greater visibility for investors.

More about Lundin Mining

Lundin Mining is a Canadian base metals producer headquartered in Vancouver, operating three mines in Brazil and Chile. The company focuses on copper and other commodities that support infrastructure and electrification, and aims to become a top‑ten global copper producer by advancing its large Vicuña copper‑gold‑silver project on the Argentina–Chile border, where it holds a 50% interest.

For an in-depth examination of LUN stock, go to TipRanks’ Overview page.