Lundin Announces Successful Completion of Tenke Fungurume Contract Review Process

Lundin Mining Corporation (TSX:LUN) announces that the government of the Democratic Republic of Congo and Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) have announced the successful conclusion of the review of Tenke Fungurume Mining’s contracts.

The press release is quoted as saying:

The Company notes that the shareholding change benefiting Gecamines will be shared proportionately by Lundin Mining and Freeport-McMoRan Copper & Gold Inc. As a result Lundin Mining’s equity interest in TFM will reduce from 24.75% to 24%. The Company will benefit from the increase in the annual interest rate on advances from the current rate of LIBOR +2% to LIBOR +6%.

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