Boliden Buys Lundin’s European Mines for Up to $1.5 Billion
- Swedish firm is buying Neves-Corvo and Zinkgruvan operations
- Acquisitions will bolster Boliden’s supplies of mined ores
Boliden AB agreed to acquire zinc and copper mines in Portugal and Sweden from Lundin Mining Corp. for as much as $1.52 billion, in a deal that bolsters supplies for its smelters at a time of intensifying global competition for mined ores.
The acquisition of Neves-Corvo in Portugal and Zinkgruvan in Sweden will almost double Boliden’s zinc concentrates output, while increasing production of copper concentrates by 43%, the Swedish company said Monday in a statement.