Lundin Mining to Sell Interest in Kokkola Cobalt Refinery

Paul, Weiss is advising Lundin Mining Corporation in its agreement, alongside Freeport-McMoRan Inc., to sell Lundin Mining’s joint venture interests in a cobalt refinery in Kokkola, Finland and the related cobalt cathode precursor business to Umicore N.V. for approximately $150 million in cash, plus working capital at closing. The transaction, which is subject to customary closing conditions, is expected to close by year-end.

The Paul, Weiss team included corporate partner Adam Givertz.