Lundin Hires BMO to Weigh African Mine Options, CEO Says
- Company in ‘early stages of exploring where things might lead’
- Lundin won’t comment on whether its ROFO is transferable
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Lundin Mining Corp. hired the Bank of Montreal to help consider its options for the Tenke Fungurume copper-cobalt mine in the Democratic Republic of Congo, Chief Executive Officer Paul Conibear said.
Earlier this month, Freeport-McMoRan Inc. agreed to sell its stake in Tenke to China Molybdenum Co. for $2.65 billion. While Lundin, as a shareholder in the mine, has the right to supplant that offer, Dagens Industri reported that the Toronto-based company also has been approached by companies interested in buying its Tenke stake.