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Sweden's Lundin Mining acquires Irish zinc mine

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16:41 CET+01:00
Lundin Mining has bid some 850 million kronor for Arcon, the Irish mining company. Lundin would pay 435 million kronor cash plus 5.6 million Lundin shares to acquire Arcon. Sir Anthony O'Reilly, Arcon's principal shareholder, has already accepted the bid and Lundin Mining is hopeful that other shareholders will also accept the deal.

Arcon's prime asset is the Galmoy mine in Ireland and if the deal goes through Lundin Mining reckons that the company will double its production of zinc.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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