Lundin gets another extension on right of first refusal to Freeport’s Tenke Fungurume

Diversified Canadian base metals miner Lundin Mining got a two-week extension to its right of first refusal on US diversified miner Freeport McMoRan’s (FCX’s) 70% indirect interest in TF Holdings, which holds 80% of the world-class Tenke Fungurume copper/cobalt mine, in the Democratic Republic of Congo. This is the second time Lundin won an extension on a bid deadline, after being notified by FCX on May 9 that it could acquire Freeport's indirect interest in TF Holdings at the same purchase price and on the same terms and conditions as an offer tabled by China Molybdenum (CMOC) for $2.65-billion in cash.