Lundin Mining: Copper Narrative Is Not Playing Out Like Expected

Ahoy Alpha
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Summary

  • Lundin Mining has acquired new mines in Chile and is investing in Argentina, aiming for cost savings and increased production capabilities.
  • Copper prices are expected to increase due to supply shortage, but new mines and a decrease in Chinese construction demand are significant.
  • ING predicts a copper supply surplus going into FY2024, decreasing copper prices, while Lundin has overextended in its expansion plans.
  • The recent closure of a major mine presents a good exit opportunity.

Aerial view of Open-pit iron mine

temizyurek

Lundin Mining (OTCPK:LUNMF) is a family-owned mining business focused on copper based in Canada. The company is diversified across different mines and minerals. They operate mines in different countries, such as Chile, Sweden, and Argentina. It is a relatively small miner, which

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I am a value investor looking for great businesses at attractive prices.

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