Deals

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

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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By Danielle Bochove

February 28, 2018 at 7:49 PM UTC

Updated on

March 1, 2018 at 3:13 PM UTC

This article is for subscribers only.

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.”