Lundin Mining has hefty M&A appetite for copper -incoming CEO

  • Canada's Lundin Mining Corp is on the hunt for copper mines and projects and willing to spend up to $3 billion on mergers and acquisitions
  • The base metal miner was recently outbid by China's Zijin Mining Group in its hostile takeover offer for Nevsun Resources.

Canada's Lundin Mining Corp is on the hunt for copper mines and projects and willing to spend up to $3 billion on mergers and acquisitions, its incoming chief executive officer said in an interview on Thursday.

Lundin will not change its strategy of disciplined bids and a focus on low-risk jurisdictions, the incoming CEO, Marie Inkster, said at the company's Toronto head office.

The base metal miner was recently outbid by China's Zijin Mining Group in its hostile takeover offer for Nevsun Resources.

"We want to get more copper. We want to get more mines. We want good prospects," said Inkster, who will take over as CEO later this year.