Near-mine communities up in arms against Freeport McMoRan’s DRC unit

Communities living near the new $2-billion Fungurume copper/cobalt mine, in the Democratic Republic of Congo (DRC), are up in arms against the gigantic mine’s developer, which they accuse of not delivering on its pledge to create substantial...

Lundin to pursue 'bolt-on' copper, zinc deals

Base metals producer Lundin Mining is rummaging around for acquisitions that could add immediate or near-term copper and zinc production, but it has ruled out any transformational deals after its proposed merger with Inmet Mining fell through last...

Salazar's high-grade copper-zinc project attracts Lundin, Silvercorp

Toronto-based Lundin Mining has bought a 15.4% stake in Salazar Resources, which owns copper-zinc properties in Ecuador, after taking up over 80% of the units on offer in a $3-million equity financing. Silvercorp, the Vancouver-domiciled,...

Lundin cuts 2011 guidance for copper, zinc output

Shares in Toronto-based Lundin Mining fell on Friday morning, after the company lowered its production forecasts for copper and zinc in 2011, citing weaker-than-expected second-quarter output at the Neves Corvo mine in Portugal. Lundin now...

Lundin shares take a hit, keen to get down to business

Shares in Lundin Mining fell sharply on Thursday morning after the company said it had concluded a strategic review and would not pursue any of the proposals received from potential buyers of the group or its assets. The firm received a...

Lundin says strategic review over, no deals to announce

Toronto-based Lundin Mining has wrapped up its review of strategic options and opted not to pursue any of the proposals it received during the process, the company said on Wednesday. Lundin launched the review after breaking off an agreement to...

Lundin profit up 37%

Base-metals producer Lundin Mining earned $71,2-million in the first quarter, 37% higher than a year earlier, after metals prices rose and the company increased production of copper, zinc and lead. Revenue rose 49% year-on-year, to $211,5-million,...

Lundin shares jump on Chinese bid report

Shares in Lundin Mining were up 10% on Friday morning, after a Canadian newspaper reported that a Chinese-led consortium was preparing a takeover bid for the base-metals producer. A group led by Jinchuan Group and including sovereign wealth fund...

Aus regulator has 'no objection' to Minmetals' Equinox bid

Australia's Foreign Investment Review Board told Hong Kong-based Minmetals Resources that it “has no objection” to the company's plan to buy copper miner Equinox Minerals, Minmetals said on Wednesday. Minmetals surprised the market on Sunday...

Equinox postpones shareholder meeting, extends Lundin offer

Equinox Minerals, the subject of an unsolicited takeover bid from China's Minmetals, said on Monday it has postponed a shareholder meeting for a vote on its own hostile offer for rival Lundin Mining. Shareholders will now vote on the Lundin bid...

Minmetals makes surprise C$6,3bn cash offer for Equinox

Hong Kong-listed Minmetals Resources has declared its intention to make a C$6,3-billion cash offer for ASX- and TSX-listed Equinox Minerals, on condition that that company drops its takeover bid for Canadian miner Lundin Mining. Minmetals is...

Tussle for Lundin far from over

There is still a lot of room for new twists in the battle for control of Lundin Mining, despite the company's board and management reiterating support earlier this week for a friendly merger with Inmet Mining, to form a new company called...