Lundin Mining to acquire additional stake in Lumina Copper

Lundin Mining has signed acquisition agreements to get a further 5% ownership successful SCM Minera Lumina Copper Chile, which owns the Caserones copper-molybdenum excavation successful Chile.

Additionally, the institution volition bargain a 30.9% involvement successful the Los Helados copper-gold project, on with a nett smelter instrumentality royalty (NSR) of 0.62% from JX Advanced Metals Corporation and its affiliates, for a full of $215m (C$291.37m).

Finalisation of the transaction, expected by April 2026, requires regulatory approvals and completion of each statement conditions but does not necessitate shareholder approval.

The acquisition is expected to importantly heighten Lundin's copper accumulation capacity.

Caserones is forecast to nutrient betwixt 130,000 tonnes per annum (tpa) and 140,000tpa of copper successful 2026, with Lundin’s accrued involvement contributing an further 6,500–7,000t.

The transaction targets an yearly currency outgo of betwixt $2.05/lb and $2.25/lb of copper aft byproduct credits.

On a afloat scale, Los Helados hosts indicated mineral resources of 8.3 cardinal tonnes (mt) of copper, 10.2 cardinal ounces (moz) of golden and 97.5moz of silver, with grades of 0.40% copper, 0.15 grams per tonne (g/t) golden and 1.5g/t metallic implicit 2.1 cardinal tonnes.

Lundin Mining initially acquired a 51% stock successful Caserones successful 2023 and gradually accrued its involvement to 70% successful 2024.

Lundin Mining president and CEO Jack Lundin said: “Securing an further 5% ownership successful Caserones and acquiring 31% of the Los Helados Project marks different important measurement successful strengthening Lundin Mining's copper-dominant portfolio successful the emerging Vicuña District.

“This concern increases our attributable accumulation illustration astatine an charismatic acquisition terms and demonstrates our ongoing committedness to disciplined, scalable maturation successful high-quality assets.”

In January 2026, Lundin Mining completed the C$176.21m merchantability of Lundin Mining US – the Canadian mining company’s subsidiary that indirectly owned the Eagle excavation and Humboldt mill successful Michigan, US – to Talon Metals.

"Lundin Mining to get further involvement successful Lumina Copper" was primitively created and published by Mining Technology, a GlobalData owned brand.

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