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Nyrstar Eyes Lundin's Swedish Zinc Mine

Nyrstar is eyeing one of Ludin Mining’s zinc mines. The European metals company has decided to take over one more zinc mine and is seriously considering getting its hand on the $1 billion zinc mine in Sweden which is currently owned by Ludin Mining.

Nyrstar has already has sold bonds and stocks to raise the $1 billion cash and financial analysts feel that it is too much of a coincidence that they have been raising cash while Ludin Mining is out shopping its assets. This includes the Zinkgruvan mine in Sweden.

However Ludin Mining has received more than one offer for the mine in Sweden and Nyrstar may have its task cut out for it trying to wing the deal. Zinkgruvan puts out about 78,000 metric tons of zinc a year, and has an expected life of at least another decade making it a very attractive prospective buy for a company that already has its own zinc smelters.

Nyrstar has recently acquired a Canadian listed zinc mining company called Farallon Resources in January. So it is well aware of the mergers and acquisitions requirements in the Canadian context. It has also gone on record to say that about one third of the zinc it feeds its smelters is from its own sources. It intends to push that up to half the zinc in the not so distant future. Acquiring the mine in Sweden would fast track that goal to fructification.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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