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Lukas Lundin Chases Base-Metal Buy With $3 Billion Budget

  • Copper ‘might be the easiest asset to work with,’ Lundin says
  • The group would also ‘love’ to acquire another gold project
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Bank of Montreal expects an active year for mining M&A, with significant dialog and a “quite robust” IPO pipeline(Source: Bloomberg)
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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.”