Canadian metals producer Lundin Mining is exploring the sale of its European assets, with several potential buyersexpressing interest. CEO Jack Lundin confirmed in a Tuesday interview in Vancouver that the company’s oldest operations in Sweden and Portugal—the Zinkgruvan and Neves-Corvo mines—are now considered non-core. “We have a lot of interested parties looking at our European assets,” Lundin said, adding that the company is evaluating whether selling these mines will unlock greater value.
The mines, which contributed 19% of Lundin’s revenue last year, were put on the market earlier this year as Lundin shifts its focus to Latin America. The company has already moved forward on projects in South America, including a joint venture with BHP Group to acquire Filo in July, a key step in developing large copper mines in Argentina.
Lundin aims to complete the sale of the European mines within the next year, noting the need for a swift process to avoid unnecessary distractions. “We don’t want this to drag on for more than six to 12 months longer,” he emphasized.
Companies & Organisations
Lundin Mining’s European Assets Attract Interest from Multiple Buyers
Lundin Mining is in talks to sell its European assets as it shifts focus to Latin America.
