Lundin expands stake in Caserones, buys into Los Helados project
Base metals producer Lundin Mining has agreed to buy an additional 5% interest in the Caserones copper/molybdenum mine in Chile, along with a 30.9% stake in the nearby Los Helados project, in a $215-million transaction.
The assets are being acquired from JX Advanced Metals and its affiliates.
Caserones is owned by SCM Minera Lumina Copper Chile, and the deal will increase Lundin Mining’s ownership in the operation from 70% to 75% once completed.
The company said the acquisition would increase its attributable copper production for 2026 by about 6 500 t to 7 000 t. On a 100% basis, Caserones is expected to produce between 130 000 t and 140 000 t of copper in 2026, with yearly cash costs forecast at $2.05/lb to $2.25/lb after by-product credits.
President and CEO Jack Lundin said the deal strengthened the company’s copper-focused growth strategy in the emerging Vicuña district.
“This investment increases our attributable production profile at an attractive acquisition price and demonstrates our ongoing commitment to disciplined, scalable growth in high-quality assets.”
The Los Helados project, located about 17 km south of Caserones, hosts a large copper-gold resource. On a 100% basis, indicated resources are estimated at 8.3-million tonnes of copper, 10.2-million ounces of gold and 97.5-million ounces of silver, while inferred resources contain 3.7-million tonnes of copper, 3.6-million ounces of gold and 50.2-million ounces of silver.
NGEx Minerals holds the remaining 69.1% interest in the project and acts as operator.
Lundin Mining said the proximity of Los Helados to Caserones could create potential operational synergies, including the possibility of transporting mineralised material between the two assets as part of future development scenarios.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
