Adkerson continues: “We congratulate our team for developing Tenke Fungurume into a very successful mining operation. We are confident that CMOC will continue to build on fungurumes` success and future development potential and will continue to work towards a safe and productive work environment and a sustainable future, with significant benefits for the Congolese government and local community. FCX is a proud partner of the Democratic Republic of Congo and is committed to ensuring an effective transition through a service agreement to ensure continuity of operations. Lundin Mining is a diversified Canadian base metals company with operations in Chile, the United States of America, Portugal and Sweden and mainly produces copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24% interest in the Freeport Cobalt Oy business, which also includes a cobalt education in Kokkola, Finland. Toronto, May 23, 2019 (TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or “company”) is pleased to make itself known, as Freeport Cobalt, the company`s joint venture with Freeport-McMoRan Inc., has entered into a definitive agreement to sell its co-directing repredation to Kokkola, Finland, and its cobalt precursor business to Umicore, for a cash payment of approximately $150 million. , plus working capital at the time of trading. Lundin Mining is authorized to receive 30 per cent of the proceeds of the transaction. The joint venture will retain Freeport Cobalt`s fine, chemical, catalytic, ceramic and pigment activities. Since the project`s inception, Tenke has paid approximately $1.5 billion in taxes and payments to the public treasury and other public administrative services in the Democratic Republic of Congo. The current operation employs approximately 3,400 full-time and 4,200 contractors.

About 98% of operational staff and 93% of contract employees are citizens of the Democratic Republic of Congo. As of December 31, 2015, Tenke had consolidated reserves totalling 7.2 billion pounds of copper and 874 million pounds of cobalt. FCX announced consolidated tenke sales for 2015 to the tune of 467 million pounds of copper and 35 million pounds of cobalt at a net unit cash cost of 1.21 $US per pound of copper. Image: As part of the transaction agreement, Lundin has the right to obtain 30% of the proceeds of the transaction. Photo: Courtesy of Alex Banner by Pixabay. PHOENIX–(BUSINESS WIRE)–McMoRan Inc. (NYSE: FCX) today announced an agreement to sell its co-final store in Kokkola, Finland, and its cobalt precursor business to Umicore for a total of approximately $150 million and working capital at the time of trading.