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It hard not to get excited when you see a blockbuster deal like that' - Adam Lundin on mining M&A
'It hard not to get excited when you see a blockbuster deal like that'
Big mining deals are going to bring needed attention to the mining sector and build more enthusiasm, noted Adam Lundin, chair of Lundin Group.
This week Adam spoke to Kitco Mining.
Earlier this month BHP Group announced a surprise takeover bid for Anglo American valued at over $31 billion.
"When you see blockbuster news like that, it's hard not to get excited," said Lundin. "I think M&A can be good for the sector, and I think it [brings] a lot of attention to the space and gets more eyeballs on it. Let's stay tuned and see how it plays out."
The Lundin Group's Lundin Mining (TSE:LUN) is up 62% year to date this year with a market cap of 13.6 billion thanks to a run in copper and other metals. The company is expected to produce between 366,000 to 400,000 tonnes of copper and between 155,000 to 170,000 ounces of gold in 2024.
Ludin Mining has a healthy pipeline. The Lundin's Josemaria project is to be developed as a large-scale open pit mining operation. As currently envisaged, over 1 billion tonnes of ore will be mined at average diluted head grades of approximately 0.30% copper, 0.22 g/t gold and a strip ratio of 0.98 over a 19-year mine life.
Kitco Media
Michael McCrae
