Lundin Mining To Acquire Additional 5% Ownership In Caserones

(RTTNews) - Lundin Mining (LUN.TO, LMC, LUMI.ST) has entered into purchase agreements to acquire an additional 5% interest in the issued and outstanding equity of SCM Minera Lumina Copper Chile, which owns the Caserones copper-molybdenum mine located in Chile, as well as a 30.9% interest in the Los Helados Project and a 0.62% net smelter return royalty on Los Helados from JX Advanced Metals Corporation and affiliates for total consideration of $215 million.

Lundin initially acquired a 51% interest in Caserones in 2023 and increased ownership to 70% in 2024. Upon closing of the transaction, Lundin Mining will increase ownership interest to 75%.

At last close, Lundin Mining was trading at C$35.27, up 1.55%.