Lundin Mining acquires Caserones, Los Helados

Lundin Mining completed the acquisition of an additional 5% equity interest in SCM Minera Lumina Copper Chile, owner of the Caserones copper-molybdenum mine, and a 30.9% interest in the Los Helados Project, along with a 0.62% net smelter return royalty on Los Helados. The total consideration of US$215 million was paid to JX Advanced Metals Corporation and affiliates from cash on hand. This acquisition increases Lundin Mining's ownership in Caserones to 75%, adding approximately 6,500 to 7,000 tonnes of annual attributable copper production. The interest in the Los Helados Project strengthens Lundin Mining's copper and gold Mineral Resource base and provides long-term growth optionality, including potential synergies with the nearby Caserones operation in Chile. This strategic move aligns with Lundin Mining's vision to become a top ten global copper producer.