Lundin Mining
Encyclopedia
Lundin Mining is a multinational minerals company with operations in Sweden, Ireland, Spain, Portugal, the Democratic Republic of Congo, and Russia. Lundin Mining is headquartered in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...

, Ontario and trades on the Toronto Stock Exchange
Toronto Stock Exchange
Toronto Stock Exchange is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalisation. Based in Canada's largest city, Toronto, it is owned by and operated as a subsidiary of the TMX Group for the trading of senior equities...

 as part of the S&P/TSX 60
S&P/TSX 60
The S&P/TSX 60 Index is a stock market index of 60 large companies listed on the Toronto Stock Exchange. Maintained by the Canadian S&P Index Committee, a unit of Standard & Poor's, it currently exposes the investor to ten industry sectors....

 index. The company also trades on the Swedish Nordic Exchange with an overall market capitalization of around 1.7 billion CAD as at July 14, 2009. The company is currently developing the Tenke Fungurume
Tenke Fungurume
The Tenke Fungurume Mine holds one of the world's largest known copper and cobalt resources. The deposits are located within two concessions totaling over in the Katanga Province of the Democratic Republic of Congo .-Ownership:...

 Copper and Cobalt deposit in the Democratic Republic of Congo in which it owns at 24.75 percent stake (as Tenke Mining Corp.).

Recent developments

On July 4, 2007, Lundin acquired Tenke Mining
Tenke Mining
Tenke Mining Corporation was a mining company with head offices in Canada. The company's operations took place in the Democratic Republic of the Congo and in South America. Tenke Mining was based in Vancouver, British Columbia...

.

In November 2008, HudBay Minerals
Hudson Bay Mining and Smelting Co.
HudBay Minerals Inc. is a Canadian mining corporation. Founded as Hudson Bay Mining & Smelting Co., Limited it has been exploring and mining in Manitoba for over 80 years. Much of their history has centered around Flin Flon, Manitoba...

  attempted to take over Lundin Mining.

In January 2011, Lundin and Inmet Mining
Inmet Mining
The Inmet Mining Corporation is a Canadian mining corporation that produces copper, zinc and gold. Focus on finding quality base metal reserves, with interest in four mining operations. The company currently holds an 18% stake in Ok Tedi Mining Limited. It also owns the Pyhäsalmi Mine in Finland....

 proposed a merger to form Symterra.. The deal fell through on March 29, 2011.

Management

The chairman of Lundin Mining is Lukas Lundin, the son of Adolf H Lundin, the company founder. The current CEO is Paul Conibear.
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