In 2024, Lundin Mining announced its joint acquisition of Filo Corp. with BHP and 50% sale of Josemaria to form Vicuña Corp. The new Joint Venture (JV) will jointly develop an emerging copper district with the potential to support a globally ranked mining complex. The JV is committed to applying international industry standards to each facet of the business, from innovation in technology to the commitment of sustainability and capacity building.
Prior to the close of the acquisition, in 2024, the Lundin Foundation supported Filo Corp. and Lundin Mining’s Josemaria Project in developing sustainability strategies and aligning with international sustainability standards. Support included developing a climate resilience roadmap, improved greenhouse gas emissions reporting, and developing criteria to evaluate climate-related aspects for major purchases. The Lundin Foundation also enhanced sustainability data collection, tracking and reporting.
Through-out the year, the Lundin Foundation prioritized several key program areas in collaboration with Josemaria. These initiatives included a small business advisory service, which provided local businesses with professional advice in legal, accounting, marketing, and health
& safety to enhance their operations.
In partnership with the National University of San Juan, the Lundin Foundation launched the second cohort of the Green Engineering program, aimed at supporting engineering students in developing business ideas that address local environmental or social challenges.
Additionally, the Lundin Foundation implemented a local supplier development program focusing on work wear, catering, and hospitality, and supported workforce development efforts, including a driver’s license program. Overall, these initiatives benefited 40 small businesses and provided training
to 156 individuals, 77% of whom were women.
Looking ahead to 2025, the Lundin Foundation endeavours to support Vicuña Corp. in skills development and economic diversification initiatives, strengthened by the Inter-American Development Bank joining as strategic partner.
