Lundin Mining Sells Eagle Mine to Talon Metals, Creating Pure-Play U.S. Nickel–Copper Producer

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

Lundin Mining has agreed to sell its U.S. subsidiary that owns the Eagle nickel-copper mine and Humboldt Mill in Michigan to Talon Metals in exchange for 275.2 million Talon shares, giving Lundin a 19.99% stake in Talon and two seats on its expanded 10-member board. The deal creates a pure-play American nickel–copper producer anchored by Eagle and Talon’s Tamarack project, unlocking potential mine-life extensions, shared use of the Humboldt Mill, and significant exploration upside across Tamarack, the Boulderdash area and the high‑grade Tamarack Vault zone. Strategically, the transaction streamlines Lundin Mining’s portfolio around its larger copper operations while preserving exposure to U.S. critical minerals via its Talon shareholding and production payment agreement, and it strengthens domestic nickel supply capacity backed by U.S. federal funding, with Eagle’s output to be removed from Lundin’s future production guidance.

More about Lundin Mining

Lundin Mining is a Canada-based base metals mining company focused on the exploration, development and operation of large-scale copper and nickel–copper assets. Its portfolio is concentrated on primary copper operations in Brazil and Chile and the advancement of the high-potential Vicuña District, positioning the group as a key supplier of critical metals to global industrial and energy-transition markets.

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