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Lundin Mining Corporation to acquire Chapada copper mine in Brazil

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Christian Fernsby |
Lundin Mining Corporation
LatAm   Lundin Mining Corporation

Lundin Mining Corporation announced it has entered into a definitive purchase agreement with Yamana Gold to purchase its 100% ownership stake in Mineração Maracá Indústria e Comércio S/A, which owns the Chapada copper-gold mine located in Brazil for cash consideration of US$800 million, subject to customary adjustments.

In addition, Yamana will retain a 2.0% net smelter return (NSR) royalty on future gold production from the Suruca gold deposit and receive contingent consideration of up to US$125 million over five years if certain gold price thresholds are met and contingent consideration of US$100 million on potential construction of a pyrite roaster.

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