Lundin's New Play for Serbia Copper Fueled by Dearth of Deposits
- Swedish billionaire family attempted to acquire Timok in 2016
- Unsolicited offer is ‘problematic’ and too low, Nevsun says
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Lukas Lundin is nothing if not tenacious. The 59-year-old chairman of Lundin Mining Corp. is making yet another play for the prized Timok copper-gold deposit.
On Monday, Lundin Mining and Euro Sun Mining Inc. announced a C$1.5 billion ($1.2 billion) bid for Nevsun Resources Inc., which owns the project in eastern Serbia. While the proposal isn’t binding and was rejected by Nevsun’s board, it would be the industry’s biggest takeover this year.