Lundin Mining Increases Interest in Caserones and Acquires Stake in Los Helados Project

Bofill Mir | In a significant development within the Latin American mining sector, Lundin Mining announced on March 9, 2026, the acquisition of an additional stake in the Caserones mine, along with a substantial interest in the Los Helados project, both located in Chile. The transaction, valued at USD 215 million, was executed with JX Advanced Metals Corporation and its affiliates, further strengthening the Canadian company’s strategic foothold in the region.

From a legal standpoint, the deal was structured through two principal agreements: a Stock Purchase Agreement and a Rights Purchase Agreement, both subject to customary conditions precedent, including regulatory approvals across multiple jurisdictions such as Chile, Canada, and Bermuda. Local legal counsel was provided by Bofill Mir Abogados, working in coordination with international law firms.

The transaction illustrates a growing trend in Chilean mining law toward asset consolidation through complex corporate acquisitions and cross-conditional arrangements. It also underscores the critical role of contractual frameworks in the indirect transfer of mining rights and in structuring cross-border investments.

Closing of the transaction is expected in April 2026, pending regulatory clearance, marking a new milestone in the development of large-scale copper projects in the region.

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