Lundin Exits Europe For $1.5 Billion, Turns Focus To South America
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2024
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Source: Benzinga
Sale of European Mines: Lundin Mining has sold its two European mines, Neves-Corvo and Zinkgruvan, to Boliden AB for up to $1.52 billion, with payments contingent on future commodity prices, enhancing Boliden's position as a leading zinc producer.
Strategic Shift to South America: The sale allows Lundin Mining to strengthen its balance sheet and focus on expanding its operations in South America, following a joint venture with BHP for the Filo del Sol project, which holds significant copper and gold resources.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
