On June 26, 2024, Lundin Mining Corporation announced it exercised its option to acquire an additional 19% interest in SCM Minera Lumina Copper Chile, which owns the Caserones copper-molybdenum mine. The transaction, valued at $350 million, increases Lundin's ownership to 70%. The deal is expected to close around July 2, 2024. Lundin Mining's President and CEO, Jack Lundin, highlighted the strategic benefits, including enhanced copper production and robust cash flow generation. The purchase will be initially funded through Lundin's revolving credit facility, with plans to refinance via an increase in its existing term loan. The acquisition includes amending the shareholders' agreement, allowing Lundin Mining retroactive rights to 70% of distributions from January 1, 2024. Caserones' production guidance for 2024 is 120,000-130,000 tonnes of copper and 2,500-3,000 tonnes of molybdenum. The mine's capital expenditures for the year are forecast at $205 million.