Lundin Mining has signed purchase agreements to acquire a further 5% stake in SCM Minera Lumina Copper Chile, which owns the Caserones copper-molybdenum mine in Chile.
Additionally, the company will acquire a 30.9% stake in the Los Hellados copper gold project, with a net replacement return (NSR) of 0.62% from JX Advanced Metals Corporation and its affiliates, for a total consideration of US$215m (C$291.37m).
Finalization of the transaction, expected by April 2026, requires regulatory approval and completion of all terms of the agreement but does not require shareholder approval.
The acquisition is expected to significantly increase Linden’s copper production capacity.
Kasron is expected to produce between 130,000 tonnes per annum (tpa) and 140,000tpa of copper by 2026, with Linden contributing an additional 6,500-7,000 tonnes.
The deal represents an annual cash cost of between $2.05/lb and $2.25/lb copper after by-product credits.
On a full scale basis, the Los Hellados host indicated mineral reserves of 8.3 million tonnes (mt) of copper, 10.2 million ounces (moz) of gold and 97.5moz of silver, at a copper grade of 0.40%, 0.15 grams per tonne (g/t) of 5.1 billion 12 tonnes of gold and 10.2 billion silver.
Lundin Mining initially acquired a 51% stake in Caserones in 2023 and gradually increased it to 70% in 2024.
Jack Lundin, president and CEO of Linden Mining, said: “Securing an additional 5% ownership in Kaseron and acquiring 31% of the Los Hellados project marks another important step in strengthening Linden Mining’s copper-dominant portfolio in the emerging Vicuna district.
“This investment increases our attributable productivity profile at an attractive acquisition rate and demonstrates our continued commitment to disciplined, scalable growth in high-quality assets.”
In January 2026, Lundin Mining completed the sale of Lundin Mining US – a subsidiary of the Canadian mining company that indirectly owned the Eagle Mine and Humboldt Mill in Michigan, USA – to Talon Metals for C$176.21 million.
“Lundin Mining to Acquire Additional Stake in Lumina Copper” was originally created and published by Mining Technologies, a brand owned by Global Data.
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