Boliden Acquires Somincor (Neves-Corvo) and Zinkgruvan from Lundin Mining

April 16, 2025

Boliden completed the acquisition of the Somincor (Neves-Corvo) copper and zinc mine in Portugal and the Zinkgruvan zinc mine in Sweden from Lundin Mining on April 16, 2025. The cash consideration was USD 1.40 billion (USD 1.30 billion enterprise value plus up to USD 150 million contingent payments); the deal was financed with a bridge loan and a directed share issue that raised ~SEK 3.75 billion. The acquisition nearly doubles Boliden's zinc concentrate production and significantly strengthens its copper concentrate output.

Buyers
Boliden
Targets
Somincor (Neves-Corvo), Zinkgruvan
Sellers
Lundin Mining
Location
Beja District, Portugal
Transaction Type
Buyout

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