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'It's hard not to get excited when you see a blockbuster deal like that' - Adam Lundin on mining M&A

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By Michael McCrae and Paul Harris
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'It's hard not to get excited when you see a blockbuster deal like that' - Adam Lundin on mining M&A teaser image

(Kitco News) - 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.

 

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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Paul Harris

Paul has more than 20 years of experience in the mining sector in investor relations, communications, research, and news reporting roles, and over 16 years of experience in the Colombia gold sector. Paul founded the successful CGS Copper and Gold Symposium in Colombia. He has written for the industry-leading publication ‘Mining Journal’ since 2015 and has been a Kitco Mining anchor since 2022. Previously, Paul spent five years in Chile reporting on the copper sector for CRU and Metal Bulletin. Paul received a BA in Business Administration from the University of the West of England, UK; and a MA in International Relations from the University of Chile, Santiago Chile. He is fluent in English and Spanish.

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.