On April 16, 2025, Lundin Mining Corporation completed the sale of its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB for cash proceeds of $1.40 billion, with potential future payments of up to $150 million.
This transaction allows Lundin Mining to concentrate on its growth strategy in the Vicuña District, improving its financial flexibility and strengthening its balance sheet, thereby positioning the company to deliver long-term value to its shareholders.
Cassels Brock & Blackwell LLP acted for Lundin with a team that includes Jen Hansen, Mark T. Bennett, Luke Woolford, Holly Elich, Elissa Chamberlain, Lizzie (Xinyue) Chen, Michelle McKinnon, Laurie Jessome, Davit Akman, Lauren Grossman, David Budd, Jennifer Wasylyk, Zahra Nurmohamed, and Jocelyn Arnason.
Osler, Hoskin & Harcourt LLP advised Boliden with a team consisting of Alex Gorka, Patrick Sullivan, Neil Rosen, Shira Dveris (Corporate), Christine Jackson, Alex Hodgson (Commercial) and David Davachi (Tax).
Kilpatrick Townsend & Stockton LLP acted as Swedish counsel to Lundin Mining Corporation, with Morais Leitão, Galvão Teles, Soares da Silva & Associados as Portuguese counsel.