Lundin Mining has completed the $127m sale of its subsidiary, Lundin Mining US, which owned the Eagle mine and Humboldt mill in Michigan, to Talon Metals. Lundin Mining now holds nearly 19.86% stake in Talon Metals.

The Eagle mine is an underground, high-grade nickel and copper mine in Michigan’s Upper Peninsula. Talon Metals CEO expressed gratitude to Lundin Mining for their support over the past 13 years.

Lundin Mining received 275.1 million shares of Talon Metals as compensation, increasing their stake to approximately 19.86%. An investor rights agreement and lock-up agreement were signed between the two companies as part of the deal.

Lundin Mining president and CEO Jack Lundin expressed confidence in the alignment of assets and teams, expecting sustained value generation in the region. The completion of this transaction positions Lundin Mining as a pure-play copper company with plans for growth.

In April 2025, Lundin Mining finalized the sale of its Neves-Corvo mine in Portugal and Zinkgruvan mine in Sweden to Boliden for up to $1.52bn.

Read more at Yahoo Finance: Lundin Mining finalises Eagle mine sale to Talon Metals