Lundin Mining agreed to pay $215 million to increase its majority stake in Chile’s Caserones copper mine. The company will also acquire a share of the nearby Los Helados copper-gold project. This move strengthens Lundin’s position in the emerging Vicuña mining district.
Lundin will buy an additional 5% interest in SCM Minera Lumina Copper Chile, which owns Caserones. It will also acquire a 31% stake in the Los Helados copper-gold deposit and a 0.62% net smelter return royalty on the project from JX Advanced Metals. The deal is expected to close in April.
This acquisition supports Lundin’s copper-focused growth strategy. It expands the company’s presence in a district becoming a major new copper area in the Andes. Lundin expects the deal to boost its 2026 attributable copper production by up to 7,000 tonnes, generating immediate cash flow. TD Cowen mining analyst Craig Hutchison called the announcement