Lundin Mining Takes 30.9% Stake in NGEx’s Los Helados Copper-Gold Project
Event summary
- Lundin Mining to acquire 30.9% stake in NGEx’s Los Helados project from JX Advanced Metals Corporation.
- Los Helados is one of the largest undeveloped copper-gold resources globally, with proximity to Lundin Mining’s Caserones mine.
- NGEx retains majority control and operational oversight of the project.
- Mineral resource estimate includes 2.08 billion tonnes of indicated resources and 1.08 billion tonnes of inferred resources.
- Transaction subject to closing conditions disclosed in Lundin Mining’s March 9, 2026, news release.
The big picture
Lundin Mining’s entry as a minority partner in Los Helados strengthens NGEx’s position in one of the world’s largest undeveloped copper-gold resources. The deal underscores the strategic importance of proximity to existing mining infrastructure, particularly as copper demand continues to rise. With NGEx retaining operational control, the partnership could unlock new development pathways for the high-grade deposit, positioning it as a key player in the global copper market.
What we're watching
- Strategic Synergies
- How Lundin Mining’s ownership of Caserones could accelerate Los Helados’ development through shared infrastructure.
- Resource Integration
- Whether NGEx can leverage Lundin Mining’s expertise to optimize Los Helados’ high-grade copper-gold-silver concentrate.
- Market Dynamics
- The pace at which copper demand growth will influence the project’s timeline and investment decisions.
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