The transaction will see Lundin Mining receive 275.2 million Talon shares, representing 18.4 percent of Talon’s outstanding equity, with a total implied value of approximately US$83.7 million based on recent trading prices.
After the deal, Lundin Mining’s stake in Talon will increase to 19.99 percent.
The Eagle mine, which was acquired by Lundin Mining in 2013, has produced more than 194,000 tonnes of nickel and 185,000 tonnes of copper. As of the third quarter of 2025, it had generated more than $3.2 billion in revenue.
The strategic rationale for the deal is aimed at consolidating US nickel-copper assets under a single operator, while allowing Lundin Mining to focus on its large-scale copper operations in Brazil and Chile.
Talon will operate the Eagle Mine and the Humboldt Mill while adding new exploration opportunities, including the Tamarack Project and the newly discovered Vault Zone. Vault, discovered through recent drilling, contains 47.33 meters of 11.01 percent nickel and 11.4 percent copper, as well as platinum group metals.
“The combination of Talon and Eagle will create a pure American nickel company anchored by the Eagle mine, the only primary nickel mine currently operating in the United States,” said Jack Lundin, president and CEO of Lundin Mining.
“This transaction unlocks meaningful synergies, including the ability to leverage the Humboldt Mill as a shared, centralized processing facility,” the executive added.
Darby Stacey, who has led the Eagle mine operations since its inception, will assume the role of CEO and director of Talon. Lundin Mining will nominate Jack Lundin and Juan Andrés Morel to Talon’s reconstituted ten-member board of directors.
The deal also includes arrangements such as a production payment agreement for non-Eagle ore processed at the Humboldt plant, transition services provided by Lundin Mining and investor rights protections.
The transaction is expected to close in early January 2026, subject to TSX approval and customary closing conditions. Talon will continue to trade on the TSX under the symbol TLO.
Don’t forget to follow us @INN_bron for real-time news updates!
Securities Disclosure: I, Giann Liguid, have no direct investment interest in any company mentioned in this article.
#Lundin #Mining #sells #Eagle #Talon #Metals #boosting #U.S #nickel #production