|Bid||6.63 x 0|
|Ask||6.65 x 0|
|Day's Range||6.51 - 6.71|
|52 Week Range||6.00 - 10.22|
|PE Ratio (TTM)||11.45|
|Earnings Date||Oct 24, 2018|
|Forward Dividend & Yield||0.12 (1.88%)|
|1y Target Est||7.61|
Canada's Lundin Mining Corp is on the hunt for copper mines and projects and willing to spend up to $3 billion on mergers and acquisitions, its incoming chief executive officer said in an interview on Thursday. The base metal miner was recently outbid by China's Zijin Mining Group in its hostile takeover offer for Nevsun Resources.
Canada's Lundin Mining Corp is on the hunt for copper mines and projects and willing to spend up to $3 billion on mergers and acquisitions, its incoming chief executive officer said in an interview on Thursday. Lundin will not change its strategy of disciplined bids and a focus on low-risk jurisdictions, the incoming CEO, Marie Inkster, said at the company's Toronto head office. The base metal miner was recently outbid by China's Zijin Mining Group in its hostile takeover offer for Nevsun Resources.
LONDON/TORONTO, Sept 13 (Reuters) - Mining companies and commodities trading houses are expected to table first-round offers by a September 28 deadline for a stake in Teck Resources Ltd's Quebrada Blanca copper mine expansion in northern Chile, two sources with knowledge of the matter said. Canada's Teck has said a development partner could contribute $2 billion for a 30 percent to 40 percent stake in the $4.8 billion Phase 2 project, an investment deal it expects to close in the fourth quarter. Demand for copper is also rising due to the expansion of electricity grids and growing electric vehicles market.
Fertiliser miner Danakali (DNK.AX) (DNK.L) aims to raise $322 million this year to develop giant potash reserves in Eritrea, industry sources say, banking on Asmara's warmer ties with Ethiopia to help lure investors. Another miner working in the area, Altus Strategies (ALS.L), has seen an upturn in investor interest in Eritrea and Ethiopia, while mining lawyers cite increased appetite for projects in the Horn of Africa neighbours that fought a war in 1998-2000. Danakali, which has worked in Eritrea since 2009, finalised a deal to sell its potash and also listed in London in July, barely a month after Ethiopia under its new Prime Minister Abiy Ahmed launched a rapprochement with Eritrea to end decades of hostility.
Fertiliser miner Danakali aims to raise $322 million this year to develop giant potash reserves in Eritrea, industry sources say, banking on Asmara's warmer ties with Ethiopia to help lure investors. Another miner working in the area, Altus Strategies, has seen an upturn in investor interest in Eritrea and Ethiopia, while mining lawyers cite increased appetite for projects in the Horn of Africa neighbours that fought a war in 1998-2000.
Canada's Lundin Mining Corp said on Thursday it does not plan to revise its hostile bid for fellow base-metal miner Nevsun Resources Ltd after it was trumped by a C$1.86 billion ($1.42 billion) offer from China's Zijin Mining Group Co Ltd. Lundin made five informal proposals and took a C$1.4 billion bid made directly to shareholders in July, all of which were rejected as inadequate by Nevsun. Lundin, whose bid expires on Nov. 9, said on Thursday that it does not plan to amend any of the terms in its offer.
TORONTO, Sept. 06, 2018-- Lundin Mining Corporation today reported its Mineral Resource and Reserve estimates as at June 30, 2018.. On a consolidated and attributable basis, estimated contained metal in ...
China's Zijin Mining Group Co will buy Canadian gold and copper miner Nevsun Resources Ltd for about C$1.86 billion ($1.41 billion), the companies said on Wednesday, after Nevsun rejecting multiple bids from rival Lundin Mining Corp. Zijin Mining, which specialises in gold, copper and zinc, will offer C$6.00 per share in cash for Nevsun, the companies said, representing a premium of about 21 percent to Nevsun's close in Toronto on Tuesday. Lundin took its all-cash offer of C$4.75 per share directly to Nevsun shareholders on July 26, after its five previous proposals were rejected by the company.
Zijin Mining Group Co. agreed to buy Nevsun Resources Ltd. for $1.41 billion to add copper assets in Serbia and Eritrea and enable the Canadian firm to ward off a hostile bid from rival Lundin Mining Corp. Nevsun rejected repeated overtures from Lundin this year, saying that its offers undervalued the company and its assets. “We think this is a very good offer from Zijin and Nevsun is very supportive of it," Nevsun Chief Executive Officer Peter Kukielski said in an interview.
If you are interested in cashing in on Lundin Mining Corporation’s (TSE:LUN) upcoming dividend of US$0.03 per share, you only have 2 days left to buy the shares before itsRead More...
Canadian miner Nevsun Resources Ltd on Thursday urged its shareholders to reject a hostile C$1.4 billion ($1.07 billion) offer from rival Lundin Mining Corp, and said the board was evaluating other potential alternatives. Lundin took its all-cash offer of C$4.75 per share directly to Nevsun shareholders on July 26, after its five previous proposals were rejected by the company. Vancouver-based Nevsun said on Thursday it has entered into confidentiality agreements with 18 interested parties, and has received four proposals from mining and smelting companies, indicating their willingness to purchase up to a 19.9 percent equity interest in Nevsun.
Lundin Mining Corp launched a hostile C$1.4 billion ($1.1 billion) takeover bid for fellow Canadian miner Nevsun Resources Ltd on Thursday, saying it had failed to convince Nevsun's board to strike a friendly deal over the past nine months. In a direct pitch to Nevsun shareholders for its C$4.75 a share offer, cash-rich Lundin said in a circular it became apparent over time that Nevsun management was unlikely to agree to a transaction, despite multiple attempts to address its concerns. "Each time we presented a proposal, the goal post changed," said outgoing Lundin CEO Paul Conibear on a conference call Thursday.
Lundin Mining Corp. formally launched its hostile takeover of Nevsun Resources Ltd. Thursday after it said successive proposals to buy the Vancouver-based miner were rejected by its board. Paul Conibear, Lundin’s chief executive officer, urged Nevsun shareholders to support the takeover, arguing the company will need significant financing to develop its Timok copper-gold project in Serbia and the Bisha mine in Eritrea. Lundin has been trying to reach an agreement to acquire Nevsun since October.
Canada's Lundin Mining Corp said on Thursday that it formally commenced an offer to acquire Nevsun Resources Ltd for C$4.75 per share in cash, valuing the base metals miner at around C$1.44 billion ($1.10 billion). Earlier this month, Nevsun had said that rival Lundin's offer of C$4.75 undervalues the company and its assets. Lundin Mining said it intends to mail the offer to Nevsun's security holders.
TORONTO, July 26, 2018 (GLOBE NEWSWIRE) -- (LUN.TO) (Nasdaq Stockholm:LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) announced today that it has formally commenced the offer (the “Offer”) to acquire all of the issued and outstanding common shares (“Nevsun Shares”) of Nevsun Resources Ltd. (“Nevsun”) (NSU.TO) (NSU.TO). The notice and advertisement of the Offer appear in the July 26, 2018 editions of the Globe & Mail and Le Devoir, and the Offer and take-over bid circular (the “Offer and Circular”) and related documents will be filed with the Canadian securities regulators on SEDAR under Nevsun’s profile at www.sedar.com and with the United States Securities and Exchange Commission at www.sec.gov. Under the terms of the offer, Nevsun shareholders will receive C$4.75 in cash for each Nevsun Share tendered to the Offer.
Canada's Lundin Mining Corp said on Wednesday that Chief Executive Officer Paul Conibear has announced retirement plans just as the base metal miner is set to make a formal offer for Nevsun Resources Ltd. The company said Conibear, who led the company for seven years, will be replaced by Chief Financial Officer Marie Inkster and that the transition process will be completed by the end of the year. Conibear's retirement comes as the cash-rich base metals producer readies a formal C$4.75 a share cash offer for Nevsun shareholders after previous proposals were rejected by its fellow Canadian miner.
Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) announced today that, following a successful seven-year tenure as the Company's President and Chief Executive Officer, Paul Conibear has announced his intention to retire. As a result of the Board’s succession planning process, Marie Inkster, Senior Vice President and Chief Financial Officer, has been selected to assume the role of President and Chief Executive Officer upon Mr. Conibear’s retirement.
Toronto, July 25, 2018-- Lundin Mining Corporation today reported cash flows of $118.3 million generated from operations in its second quarter of the year. Net earnings from continuing operations attributable ...
Moody's Investors Service, ("Moody's") commented that Lundin Mining Corporation ("Lundin") announcement that it intends to make an offer to purchase Nevsun Resources Ltd. for approximately $1.1 billion is credit negative because the purchase, if successful, will cause liquidity to materially decline, geopolitical risk to increase, and there is execution risk in bringing a green field development to production, with cash flow from the acquisition years away. Headquartered in Toronto, Ontario, Lundin Mining Corporation is a diversified base metals mining company with operations in Portugal, Sweden, Chile and the USA, producing copper, zinc, lead and nickel. This publication does not announce a credit rating action.
Nevsun Resources Ltd said on Tuesday rival Lundin Mining Corp's most recent offer to buy the base metals miner ignores the "fundamental value" of the company and its assets. Nevsun's Chief Executive Officer Peter Kukielski said in a statement that Lundin's notional takeover offer represents only a 13 percent premium to Nevsun's closing trading price on Monday. Nevsun's shares had closed at C$4.21 on Monday.
It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The industry has deep pockets for deals right now -- Rio Tinto Group may end the year having raised $8.5 billion from asset sales and rivals like BHP Billiton Ltd. and Glencore Plc are churning out massive profits.