Business & Finance
05 October 2023, 3:48 pm 1 minute
Reuters exclusively reported that Canadian miner Lundin Mining was in talks with Japanese trading houses and large miners to sell between 40%-50% stake in its Argentina copper-gold mine. Lundin’s incoming CEO Jack Ludin told Reuters in an exclusive interview that the company is planning to make an announcement next year. Ludin shares turned positive and rose as much as 4.2% soon after.
Market Impact
Copper miners have been under stress as a tepid demand in China and macro-economic uncertainty has put the commodity price under pressure, with the industry anticipating possible production cuts. Analysts are expecting that the low price could force copper miners to cut costs and even consider M&A deals.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & EnergyFinancial Services
Countries: Canada
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story