Skip to content
Subscriber Only

Lumina Copper Invites BHP Deal With Argentine Discount

Lumina Copper Corp. is offering the biggest mining companies a chance to acquire one of the world’s largest deposits of the metal for 26 cents on the dollar.

Lumina, owner of the Taca Taca copper project in Argentina, put itself up for sale last week after plummeting more than 50 percent from its all-time high of C$17.01 a share three months ago. As investors avoided Argentine assets after the government seized oil producer YPF SA in April, Vancouver-based Lumina’s slump left it trading at a 74 percent discount to its net asset value, according to analysts’ estimates compiled by Bloomberg.