Lundin in talks with Japanese trading houses about the Josemaria mine

Josemaria copper-gold project

According to Reuters, Lundin Mining Corporation is in talks with Japanese trading houses about selling between 40-50% of the stake in the Josemaria mine. The Josemaria copper-gold project is a high-grade copper-gold porphyry mine in San Juan Province, Argentina. Nowadays due to the lower demand in the Chinese market and other uncertainty results with an anticipation of further possible cuts which could lead by analysis to further drop of the prices. The drop in the prices could result in cut costs or other mergers and acquisitions (M&A).

$3.1 billion is needed

Jack Lundin in his first interview after he was named CEO, said that the company is conducting risk analysis before finalizing strategic partners to help develop the Josemaria copper-gold mine. He said an announcement is expected next year.
Lundin Mining has previously stated that c.a. $3.1 billion is needed to develop the mine.

Anticipation

The company is now observing the copper price trend and anticipates that if the copper price falls below $3.60 per pound it could force some miners to cut production. However, Jack Lundin explained that at the moment Lundin Mining Corporation is not planning to halt its production.

Jack Lundin starts his new role at Lundin Mining in January 2024.