Lundin Mining has ambitions of being one of the largest copper producers in the public markets. And they’re getting closer than ever.
What’s happening:
- Lundin Mining (TSX: LUN) has hit a near all time record in revenue for their most recent quarter, led by their gold, copper and zinc production
By the numbers:
- Lundin Mining generated $1.07B USD in total revenue in their most recent quarter
- 47,000 ounces of gold were produced in their most recent quarter, as well as 99,855 tonnes of copper
- Lundin Mining hit 46,610 tonnes of total zinc production
- Lundin Mining also increased their equity stake in their Caserones copper-molybdenum mine from 51% to 70%
Why it matters:
- Lundin Mining is quickly becoming one of the most important copper producers in the entire world, with majority ownership stakes in multiple high production copper mines globally
Going deeper:
- BHP (NYSE: BHP) and Lundin Mining also recently came together to purchase Filo Mining (TSX: FILO) in a multi billion dollar acquisition, in large part due to Filo Mining’s flagship copper mine on the border of Argentina and Chile
The intrigue:
- The race for more copper production is fully underway in the public markets, with Ivanhoe Electric (NYSE: IE) previously taking outright ownership of the Santa Cruz Copper Project in Arizona as well as a London Stock Exchange listed SPAC purchasing a copper mine in Turkey in a multi hundred million dollar deal
