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Lundin Mining (OTCPK:LUNMF) is considering a potential sale of two European zinc mines, as the company seeks to focus on copper in Latin America, Bloomberg reported Thursday.
Lundin (OTCPK:LUNMF) reportedly is gauging interest in its Zinkgruvan mine in Sweden and Neves-Corvo mine in Portugal, the company’s two oldest assets; the pair generated ~19% of its revenues last year.
Zinkgruvan, which has operated continuously since 1857, produced 76,349 tons of zinc last year, and Neves-Corvo – which has generated unsolicited offers in the past, including one that valued the operation at ~$1B, according to the report – produced 108,812 tons of zinc and 33,823 tons of copper in 2023.
Lundin (OTCPK:LUNMF) is moving ahead on projects in South AmericaL Its Josemaria copper and gold project in Argentina will cost ~$5B to build into a mine, according to Royal Bank of Canada, and earlier this week it raised its stake in its Caserones copper mine in Chile from 51% to 70% in a $350M deal.