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20/07/2024
Mining News

Lundin Mining considers sale of Zinkgruvan and Neves-Corvo mines to fund South American expansion

Lundin Mining is reportedly exploring the potential sale of its Zinkgruvan and Neves-Corvo zinc mines in Sweden and Portugal, respectively, as part of a strategy to raise capital for investments in copper assets in Argentina and Chile.

Operational since 1857, Zinkgruvan, located southwest of Stockholm, produced 76,349 tonnes of zinc in 2023. Neves-Corvo, which also mines copper, reported production of 108,812 tonnes of zinc and 33,823 tonnes of copper. Discussions about the sale are in preliminary stages, with no assurance of a final decision. Lundin Mining’s CEO, Jack Lundin, emphasized the company’s strong current financial position, stating they are not compelled to divest assets to pursue their South American growth ambitions. Lundin Mining is also in talks to sell a stake in the Josemaria copper-gold-silver project in Argentina.

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