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Lundin Mining Invests $350M To Expand Caserones Stake, Enhance Copper Production

Lundin Mining (OTC:LUNMF) announced a $350 million investment to boost its ownership in the Caserones copper-molybdenum mine in Chile to 70%. After acquiring control of the mine in March 2023, the Canadian miner is now exercising a right to expand its stake, boosting its copper and rare metal output. “This strategic investment reinforces our commitment to expanding our copper portfolio and strengthens our presence in a key mining region,” stated CEO Jack Lundin. Caserones is situated in the Atacama Region of northern Chile, near the border with Argentina, and operates at an altitude of approximately 4,200 meters. The mine produces both copper concentrate and copper cathodes alongside molybdenum concentrate. Anticipated production in 2024 stands between 100,000 and ...