Lundin Mining to acquire an additional 19% stake in SCM Minera Lumina Copper Chile from JX for $350m.

Lundin Mining, a Canadian company that owns and operates mines in Sweden, United States, Chile, Portugal and Brazil, agreed to acquire an additional 19% stake in SCM Minera Lumina Copper Chile, which owns the Caserones copper-molybdenum mine located in Chile, from JX for $350m. "We are pleased to expand our ownership in a long-life operation characterized by robust cash flow generation, further enhancing Lundin Mining’s presence in the region and strengthening our overall copper-dominant portfolio of high-quality base metal mines. Exercising our option early provides significant benefits to both parties: we secure additional copper production at an attractive acquisition price, while our partners receive an upfront payment and retain a meaningful 30% equity position in Caserones. This strategic move underscores our commitment to disciplined, scalable copper growth," Jack Lundin, Lundin President and CEO.