The Prospector News

Lundin Mining Announces Sale of Interest in Kokkola Cobalt Refinery

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Lundin Mining Announces Sale of Interest in Kokkola Cobalt Refinery

 

 

 

 

 

Lundin Mining Corporation  (TSX: LUN) (Nasdaq Stockholm: LUMI) is pleased to announce that Freeport Cobalt, the Company’s joint venture with Freeport-McMoRan Inc. has entered into a definitive agreement to sell its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for cash consideration of approximately US$150 million, plus working capital at the time of close. Lundin Mining is entitled to receive 30 percent of the proceeds of the Transaction. The joint venture will retain Freeport Cobalt’s fine powders, chemicals, catalyst, ceramics and pigments businesses.

 

The Transaction is subject to the completion of the separation of Freeport Cobalt, the receipt of required regulatory approvals, and other customary closing conditions. The Transaction is expected to close by year-end 2019.

 

About Lundin Mining

 

Lundin Mining is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24% equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

 

Posted May 23, 2019

Share this news article

MORE or "UNCATEGORIZED"


RNC Minerals Closes Oversubscribed $18.5 Million Bought Deal Financing

RNC Minerals (TSX: RNX) is pleased to announce that it has closed... READ MORE

September 20, 2019

Moneta Announces Closing of Strategic Investment by Eric Sprott

Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) is p... READ MORE

September 20, 2019

Golden Tag Resources Closes $1.5 Million Financing Including Strategic Investment by Eric Sprott

Golden Tag Resources Ltd. (TSX-V: GOG) is pleased to announ... READ MORE

September 20, 2019

Osisko Increases Credit Facility to $400 Million

Osisko Gold Royalties Ltd (TSX:OR) (NYSE:OR) is pleased to ... READ MORE

September 20, 2019

Unigold Announces Closing of Private Placement of 32,350,000 Units for Gross Proceeds of Approximately $3 Million

Unigold Inc. (TSX-V: UGD) is pleased to announce that it has clos... READ MORE

September 19, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions