Toronto-based Lundin Mining Corporation has announced it recently completed the plan of arrangement to purchase all of the issued and outstanding shares of Josemaria Resources, a company that develops a copper-gold project located in Argentina.
“The addition of the Josemaria project to Lundin Mining’s portfolio solidifies our position as a leading base metals producer with high-quality copper exposure and significant growth. We look forward to building upon the excellent reputation of Josemaria Resources in San Juan and Argentina,” said Peter Rockandel, Lundin Mining’s president and CEO, as quoted in a statement.
“We are excited to lead the project through the remaining stages of development and into production to create significant value for all stakeholders,” according to Rockandel.
Once the deal is finalised, Lunding Mining intends to spend up to $300 million with the aim to advance the Argentinian project ahead of a construction decision in the second half of this year, the miner said.