Business
Lundin Mining Completes the Transaction to Increase Ownership in Caserones to 70%
Lundin Mining Completes the Transaction to Increase Ownership in Caserones to 70% Canad...
About this update from Lundin Mining Corporation
[{"type":"text","content":"\n \n \n \n Lundin Mining Completes the Transaction to Increase Ownership in Caserones to 70%\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n July 2, 2024\n \n /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI)\n \n Lundin Mining Corporation\n \n (\"Lundin Mining\" or the \"Company\") is pleased to announce the closing of the option to acquire an additional 19% interest in the issued and outstanding equity of SCM Minera Lumina Copper Chile (\"Lumina Copper\"), which owns the Caserones copper-molybdenum mine (\"Caserones'\") located in\n \n Chile\n \n , from JX Advanced Metals Corporation\n \n 1\n \n (\"JX\"), as previously announced on\n \n June 26, 2024\n \n (the \"Call Option Exercise\").\n \n \n The consideration for the Call Option Exercise was paid for in cash and consisted of a payment of\n \n $350 million\n \n for an additional 19% interest in Caserones, bringing the Company's ownership to 70%. Upon closing of the call option, Lumina Copper declared a cash dividend of\n \n $150 million\n \n of which 70% will be distributed to Lundin Mining and 30% to JX.\n \n \n \n About Lundin Mining\n \n \n \n Lundin Mining is a diversified Canadian base metals mining company with operations and projects in\n \n Argentina\n \n ,\n \n Brazil\n \n ,\n \n Chile\n \n ,\n \n Portugal\n \n ,\n \n Sweden\n \n and\n \n the United States of America\n \n , primarily producing copper, zinc, gold and nickel.\n \n \n The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on\n \n July 2, 2024\n \n at\n \n 14:...