Eagle Mine and Humboldt Mill sold in $84M U.S. nickel market exit

Lundin Mining Corp. has signed a deal to sell its Eagle Mine and Humboldt Mill in Michigan to Talon Metals Corp. AP Photo/Matthew Brown, File)

VANCOUVER — Lundin Mining Corp. has signed a deal to sell its Eagle Mine and Humboldt Mill in Michigan to Talon Metals Corp. in an all-stock deal valued at about US$83.7 million.

Under the agreement, Lundin Mining will receive 275.2 million Talon shares, representing an 18.4 per cent stake in the company.

The deal will increase Lundin Mining’s interest in Talon to 19.99 per cent once the deal is complete.

Lundin acquired the Eagle project from Rio Tinto in 2013 and began commercial production at the operation in 2014.

The company says the deal helps streamline its portfolio to focus on its larger scale primary copper mining operations in Brazil and Chile.

The sale is expected to close in early January, subject to the approval by the Toronto Stock Exchange and other customary closing conditions.

This report by The Canadian Press was first published Dec. 19, 2025.