On July 13, 2023, Lundin Mining Corporation completed the acquisition of 51% of the issued and outstanding equity of SCM Minera Lumina Copper Chile, which owns the Caserones copper-molybdenum mine in Chile, from JX Metals Corporation and certain of its subsidiaries.
Lundin Mining has also obtained commitments for a three-year term loan in a principal amount of $800 million, with an additional $400 million accordion available upon receipt of additional binding commitments and closing of up to an additional 19% interest in Lumina Copper and satisfaction of relevant conditions precedent. The term loan is subject to the execution and delivery of definitive documentation in form and substance satisfactory to Lundin Mining and the term loan lenders and satisfaction of conditions precedent.
Lundin Mining is represented internally by Andrew Hastings, Senior Vice President and General Counsel.
Cassels acted as external Canadian counsel to Lundin Mining.