TORONTO (miningweekly.com) – Toronto-based Lundin Mining will voluntarily delist its common shares from the NYSE, after deciding the cost of maintaining the listing outweighs the benefits, the firm said on Friday.

Lundin shares will continue to trade on the TSX and the Swedish Depositary Receipts, representing the company's common shares, will continue to trade on the Nordic OMX Exchange.

The listing in Toronto provides shareholders with sufficient liquidity, while the NYSE accounts for less than 15% of the firm's global volume, said president and CEO Phil Wright.

The company has notified the NYSE and expects the delisting to take effect on or about April 2.

Lundin last year agreed to be acquired by fellow Canadian HudBay Minerals, but the two firms cancelled the transaction in February, after opposition from HudBay shareholders.

The firm's three flagship assets are the Neves-Corvo copper/zinc mine, in Portugal, which is currently only producing copper, Zinkgruvan in Sweden and its 24,75% stake in Freeport-McMoRan Copper & Gold's Tenke Fungurume copper/cobalt project, in the Democratic Republic of Congo.

Both Neves-Corvo and Zinkgruvan are expected to be cash flow positive this year, and production is scheduled to begin in the second quarter at Tenke Fungurume, Lundin said last month.

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