Lundin Mining

Lundin Mining Corp.
Public
Traded as TSX: LUN
Nasdaq Stockholm: LUMI
Industry Industrial Metals & Minerals
Founded 1994[1]
Headquarters Toronto, Ontario, Canada
Key people
 Lukas Lundin, chairman
Paul Conibear, CEO
Number of employees
 1,500 (2008)[2]
Website www.lundinmining.com

Lundin Mining is a multinational minerals company with operations in the United States, Sweden, Portugal, and Chile. Lundin Mining is headquartered in Toronto, Ontario and trades on the Toronto Stock Exchange as part of the S&P/TSX 60 index. The company also trades on the Swedish Nordic Exchange with an overall market capitalization of around 5.3 billion CAD as at July 24, 2018.

Lundin Mining was founded in 1994.[1]

Recent developments

In July 2007, Lundin acquired Tenke Mining.

In November 2008, HudBay Minerals attempted to take over Lundin Mining.[3]

In January 2011, Lundin and Inmet Mining proposed a merger to form Symterra.[4] The deal fell through on March 29, 2011.[5]

In June 2013, Lundin Mining announced the acquisition of Rio Tinto's Eagle nickel and copper mine for $325 million.[6]

In 2014, Lundin Mining bought the copper mine "Candelaria", this mine has a production of 168 tonnes of concentration of copper per year and is located in Chile in the third region, this purchase was a total of $1,8 Billion.

In January 2017, Lundin Mining reported full year 2016 production totaling 205,154 tonnes of copper, 24,114 tonnes of nickel and 148,050 of zinc.[7]

In April 2017, Lundin Mining released a Feasibility Study on its Eagle East nickel-copper deposit in Michigan. The study demonstrated a post-tax net present value of US$205 million with pre-production capital costs of $102 million.[8]

On April 19, 2017, the Company announced the completion of the sale of its indirect interest in TF Holdings Limited ("TF Holdings") to an affiliate of BHR Partners for $1.136 billion in cash. Lundin Mining's effective 24% interest in Tenke was held through its 30% indirect interest in TF Holdings.  [9]

Management

The chairman of Lundin Mining is Lukas Lundin, the son of Adolf H Lundin, the company founder. The current CEO is Marie Inkster.[10] Adolf Lundin is also founder of Lundin Petroleum (2001).

References

  1. 1 2 Company History Lunding mining. Investors. Read in Oct 2012
  2. ↑ "Company Profile for Lundin Mining Corp (CA;LUN)". Retrieved 2008-10-08.
  3. ↑ HudBay CEO defends Lundin deal, The Globe and Mail, November 27, 2008
  4. ↑ Donville, Christopher; Keenan, Rebecca (January 13, 2011). "Lundin, Inmet Mining Agree to Merge to Create Company Valued at $9 Billion". Bloomberg.
  5. ↑ http://cnrp.marketwire.com/client/lundin_mining/release.jsp?year=2011&actionFor=1419441&releaseSeq=1
  6. ↑ "Lundin to Buy U.S. Mine From Rio Tinto for $325 Million". Bloomberg.
  7. ↑ "Lundin Mining Announces 2016 Production Results". juniorminingnetwork.com.
  8. ↑ "Lundin Mining Announces Eagle East Feasibility Study Results and Provides Project Update". www.juniorminingnetwork.com.
  9. ↑ "Lundin Mining Corporation - Company History - Tue Jul 24, 2018". www.lundinmining.com. Retrieved 2018-07-24.
  10. ↑ https://www.lundinmining.com/news/lundin-mining-announces-conclusion-of-ceo-succesio-1587448/


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