Sweden’s billionaire Lundin family is looking to spend as much as $3 billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project.
Lundin Mining Corp. is on the prowl for a long-life zinc, nickel or copper asset and would shell out $1 billion to $3 billion, Lukas Lundin said in an interview Wednesday from the BMO Global Metals & Mining Conference in Florida. An existing operation is his preference and copper “might be the easiest asset to work with.”