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Canadian-Swedish miner Lundin Mining is in talks with Japanese trading houses and large miners to offer a stake of between 40% and 50% in Argentina’s Josemaria mine, incoming CEO Jack Lundin toldIn his first interview since being named as CEO this week, Jack Lundin said 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 starts his new role in January 2024.
Copper miners have been under stress as a tepid demand in China and macro economic uncertainty has put the commodity price under pressure, with the industry anticipating possible production cuts. Analysts are expecting that the low price could force copper miners to cut costs and even consider M&A deals.
“We are for now comfortable with our liquidity position and would consider financing options for specific projects,” Lundin said.Lundin’s shares were up 4% on the Toronto Stock Exchange on Thursday. The company is also watching the downward trend in copper prices and anticipates that if the prices fall below $3.60 per pound it could force some miners to cut production. Though Lundin is not planning to halt its production “at the moment”, Lundin said.WGC names new chair, launches documentary featuring Idris ElbaFor BHP to engage in a buyout, it would need to consider price, ease of jurisdiction, and opportunity to add value.
Alejandro Rivera resigned as CFO a day after Codelco’s investment-grade credit rating was cut one notch by Moody’s.
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