https://business.financialpost.com/
The company plans to apply the entire proceeds from the Chapada mine sale to reduce its $1.6 billion debt pile
When the management teams at Yamana Gold Inc. and Lundin Mining Corp. look at copper and gold, both see a rising price environment ahead.
Despite the shared positive outlook, it was copper-focused Lundin Mining Corp. that announced on Monday it would plunk down $1 billion in cash to purchase the Chapada copper-gold mine in Brazil from gold-focused Yamana, which needs cash to reduce its debt load.
In some ways the deal mirrors analysts’ optimistic predictions about copper compared to a more hazy outlook on gold equities, even in the face of a potential U.S. recession, and the possibility of a global economic slowdown amid persistent trade disputes.