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Lundin Slumps After Deal to Buy Copper-Gold Project in Argentina

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Lundin Mining Corp. fell the most since March after it agreed to acquire Josemaria Resources Inc., a copper-gold project in Argentina, for C$625 million ($483 million). 

The acquisition will expand Lundin’s copper-mining operations in South America, with a projected annual average output of 130,000 tons over Josemaria’s 19-year mine life, Lundin said Monday in a statement. Shares fell as much as 16%.