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On April 16, 2025, Lundin Mining Corporation completed the sale of its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB for cash proceeds of $1.40 billion, with potential future payments of up to $150 million.
This transaction allows Lundin Mining to concentrate on its growth strategy in the Vicuña District, improving its financial flexibility and strengthening its balance sheet, thereby positioning the company to deliver long-term value to its shareholders.
Cassels Brock & Blackwell LLP acted for Lundin. Osler, Hoskin & Harcourt LLP advised Boliden.
Kilpatrick Townsend & Stockton LLP acted as Swedish counsel to Lundin Mining Corporation, with Morais Leitão, Galvão Teles, Soares da Silva & Associados as Portuguese counsel.
Parties
Company
Lundin Mining Corporation
Company
Boliden AB
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 2,150,000,000Deal Status
ClosedClosing Date
16 April 2025