Lundin Mining completed the acquisition of a 51% stake in Caserones Copper Mine from JX Nippon for $950m.

Lundin Mining, a mining company, completed the acquisition of a 51% stake in Caserones Copper Mine, a copper mining company, from JX Nippon Mining & Metals, a supplier of consumable electronic materials, for $950m. "Upon closing of the Acquisition of Caserones, we add another long-life copper mine of material size and with significant growth potential to our portfolio, in a region in which we have considerable knowledge and experience. The Caserones team has achieved meaningful operational improvements in recent years, and we will work to unlock additional upside through our strong technical resources and existing presence in the region. The initial controlling interest increases our exposure to what we believe is a growing top-tier copper mining district. We retain the option to further increase our ownership over the next few years at an attractive price. The Acquisition further solidifies Lundin Mining’s position as a growing global producer of copper as the world shifts to a lower carbon future," Peter Rockandel, Lundin Mining CEO.