|Lundin Mining Corporation - LUN.t is a diversified Canadian base metals mining company with operations in Chile, the USA, Portugal, and Sweden, primarily producing copper, nickel and zinc. |
Lundin Mining holds a 24% equity stake in the world-class Tenke Fungurume copper/cobalt mine in the DRC.
Lundin Mining Corporation announces that Lundin Mining, Freeport-McMoRan Inc. ("Freeport"), and China Molybdenum Co., Ltd. ("CMOC") have agreed to further extend the notice period during which the Company has the right to acquire Freeport's indirect interest in TF Holdings Limited ("TF Holdings") to September 29, 2016. On May 9, 2016, Lundin Mining received a notice from Freeport offering Lundin Mining the right to acquire Freeport's indirect interest in TF Holdings at the same purchase price and on the same terms and conditions offered by CMOC.
TF Holdings is the holding company that indirectly owns an 80 percent interest in Tenke Fungurume Mining S.A. ("Tenke"). Freeport and Lundin each hold a 70 and 30 percent interest, respectively, in TF Holdings. Lundin Mining, in consultation with its legal and financial advisors, continues its strategic review in connection with its ownership interest in TF Holdings.