Stocks in Play: Lundin Mining Corporation
Monday, December 2, 2019
11:54 AM EST - Lundin Mining Corporation : Announced that Freeport Cobalt, the Company's joint venture with Freeport-McMoRan Inc. has completed the sale of the cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for total cash consideration of approximately $200 million, including net working capital of approximately $50 million at the time of close. Lundin Mining is entitled to receive 30% of proceeds of the Transaction. The joint venture will retain Freeport Cobalt's fine powders, chemicals, catalyst, ceramics and pigments businesses. Lundin Mining has received approximately $100 million in funds distributed by the joint venture, including the attributable proceeds of the Transaction. Lundin Mining Corporation
(T.LUN) shares were up $0.07 at 7.26.