Lundin Mining Upsizes Credit Facility to $4.5 Billion for Vicuña Project
Lundin Mining has received commitments to increase its credit facility from $2.25 billion to $4.5 billion. The facility will expand to $3.5 billion upon meeting certain conditions, and to the full amount after sanctioning Stage 1 of the Vicuña Project. The maturity date is extended to 2031, with unchanged pricing based on a sliding scale. The increased facility supports Lundin's goal to become a top-ten global copper producer.
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Lundin Mining has increased its credit facility commitments to $4.5 billion, up from an initial $2.25 billion. The facility will initially expand to $3.5 billion upon meeting specific conditions and reach the full amount with the approval of Stage 1 of the Vicuña Project.
The maturity date will be extended to 2031, with pricing remaining unchanged based on a sliding scale of 1.45% to 2.50% over adjusted SOFR, depending on the leverage ratio. The facility aims to enhance financial flexibility and support the company's goal of producing over 500,000 tonnes of copper annually. The finalized agreement will be filed on SEDAR+.
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