Lundin Mining Stake Trimmed Following Freeport Production Halt, Copper Price Surge
Stockholm, Sweden – September 25, 2025 – A significant, though unspecified, portion of a portfolio’s holdings in Lundin Mining Corporation has been sold following a 3% rise in copper prices triggered by production issues at Freeport-McMoRan’s Grasberg mine in Indonesia. The move, detailed in a recent blog post, reflects a strategic decision to avoid benefiting from competitor misfortune adn prioritize investments based on basic company performance.
The decision to sell came after news broke that Freeport had paused production at Grasberg due to an accident reportedly occurring weeks prior. While the price increase presented a potential short-term gain for Lundin mining, the investor expressed discomfort with a stock’s ascent being driven by another company’s problems rather than demonstrable improvements in Lundin’s own operations. Proceeds from the sale are expected to be reinvested into Millicom.
“I do not like a stock to skyrocket just as another company in the same sector has problems. It becomes more of a speculation and not proof that Lundin Mining creates better numbers,” the investor wrote. “That’s why I chose to sell a decent steak in Lundin mining. The money will probably land in Millicom.”
The investor addressed potential criticism referencing a previous investment in Novo Nordisk, clarifying that the purchase was based on the company’s established trajectory, not solely on challenges faced by competitor Eli Lilly. “The scouts in Novo Nordisk started well earlier than that. Then I bought once the course has gone up and based on the future that I see myself. I absolutely did not buy Novo just for the simple reason that Eli Lilly got a temporary stick in the wheel. It would be a pretty stupid decision.”
Looking ahead, the investor remains focused on the potential success of Lundin Mining’s investment in the Vicuña district, located on the Argentina-Chile border, as a key driver of future growth, independent of broader copper market fluctuations.
