Boliden Buys Lundin’s European Mines for Up to $1.5 Billion (2)

Boliden AB agreed to acquire zinc and copper mines in Portugal and Sweden from Lundin Mining Corp. for as much as $1.52 billion, in a deal that bolsters supplies for its smelters at a time of intensifying global competition for mined ores.

The acquisition of Neves-Corvo in Portugal and Zinkgruvan in Sweden will almost double Boliden’s zinc concentrates output, while increasing production of copper concentrates by 43%, the Swedish company said Monday in a statement.

Bloomberg reported that Boliden was closing in on a deal to buy the assets last month, as it seeks to secure long-term raw-material supplies for ...