Lundin Mining to Pay $215M for 5% More in Caserones Mine, 30.9% in Los Helados; Stake Rises to 75%

According to a Monday report by the Financial Times, Mongolia was seeking to renegotiate the "unfair" commercial terms of the $18 billion Oyu Tolgoi copper mine owned by mining giant Rio Tinto.The report said Mongolian Prime Minister Gombojavyn Zandanshatar stated at a meeting that the current agreement between the two sides was "unfair."The report said Mongolian government officials would meet with Rio Tinto executives this week to discuss the terms of the deal.

Diversified Mining Company Fortescue has completed the acquisition of Alta Copper, securing the Caariaco copper mine project in northern Peru.The acquisition was carried out through a Canadian plan of arrangement, under which Fortescue subsidiary Nascent.Exploration acquired all issued and outstanding shares of Alta Copper not already held by the group.Following the completion of the transaction, Fortescue holds a 100% stake in the Caariaco copper mine.Fortescue CEO Gus Pichot said that copper remains central to the company’s diversification strategy.

Zambia's mining minister said on Tuesday that the country was actively attracting global investors, including those from the US, with the goal of more than tripling copper production to 3 million mt by 2031.Zambia's copper production last year was 890,346 mt, falling short of the annual production target of 1 million mt. Zambia is Africa's second-largest copper producer, behind only the DRC. Copper is a key material for EVs and renewable energy infrastructure and is critical to the transition to a low-carbon economy.