Boliden, a Swedish mining company, is nearing a deal to acquire two mines in Sweden and Portugal from Lundin Mining, Bloomberg reported, citing people familiar with the matter.

The transaction is set to reinforce Boliden's status as one of the leading zinc producers in Europe, ensuring a steady supply of ore for its smelting operations in Scandinavia.

Although discussions are at an advanced stage, there is no guarantee that the agreement will be finalised, according to sources close to the matter.

In June this year, Lundin Mining, headquartered in Vancouver, Canada, reportedly planned to sell its Zinkgruvan mine in Sweden and Neves-Corvo mine in Portugal.

The two mines in question represent some of Lundin's oldest assets and were responsible for approximately one-fifth of the company's revenue in the previous year.

Lundin's strategy involves raising capital to fund the development of copper projects in South America.

In a notable collaboration, Lundin joined forces with BHP in July to acquire Filo, which possesses a significant copper project on the border of Argentina and Chile.

Additionally, BHP is set to partner with Lundin on the adjacent Josemaria project.

In September this year, Sandvik Mining and Rock Solutions partnered with Boliden’s Kevitsa mine in Sodankylä, northern Finland, to conduct field tests on a battery-electric concept surface drill rig.

The partnership aimed to collect real-world data on the drill rig's performance and operational effectiveness.

Kevitsa mine is a multi-metal, open-pit operation that continues to invest in automation, electrification and remote-control technologies, aligning with the capabilities of Sandvik's battery-electric surface drill rig.

"Boliden nears purchase of Lundin’s mines in Europe" was originally created and published by Mining Technology, a GlobalData owned brand.

 

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