Seeking Alpha

First Quantum to buy Lumina Copper for $470M

  • First Quantum Minerals (FQVLF -0.2%) agrees to acquire Lumina Copper (LCPRF +19.6%) for $470M in a cash and stock deal that values Lumina at $10/share, a 28% premium above Lumina's Monday closing price.
  • The dea; gives First Quantum the Taca Taca project in Argentina, one of the world’s most promising undeveloped copper deposits with more than 28B lbs. of copper resources and another major project in Latin America to go with Cobre Panama and Haquira.
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