Lundin Mining is a Canadian/Swedish base-metals mining company producing copper (63%), nickel (15%), zinc (15%), and gold (5%). It generated $3 billion in revenues in 2022 from mines located in the US, Chile, Brazil, Argentina, Portugal, and Finland. Controlled by the Swedish Lundin family, which has a long track record in oil and gas, Lundin Mining has grown steadily by acquisition over the last decade. Its moves included buying the Eagle nickel mine in Michigan for $315 million in 2014 and the Josemaria copper gold project in Argentina last year for $485 million.
Wealth Builder
Sorry!
Only current subscribers of the Internet Wealth Builder may view the details of this recommendation.
Income Investor
Lundin Mining remains a Buy for its expanding copper production in politically favourable jurisdictions, a reasonable and sustainable dividend yield of $0.36 annually, equivalent to a 2.44% yield, supplemented by occasional special payouts and the possibility of further expansion either through acquisitions or bringing the Josemaria project on stream in the next couple of years. - Gavin Graham
Sorry!
Only current subscribers of The Income Investor may view the details of this recommendation.
Interactive Performance Chart
LUN was first recommended here on July 14, 2014