Lundin Mining Corp. agreed to buy a controlling stake in the Candelaria copper mining complex in Chile from Freeport-McMoRan Inc. for at least $1.8 billion to gain a foothold in the world’s largest supplier of the metal.

Lundin, a Canadian base-metals producer, plans to finance the acquisition with $1 billion in new senior secured debt and the sale of about $600 million of shares, the Toronto-based company said yesterday in a statement. It also agreed to a so- called streaming deal with royalty company Franco-Nevada Corp.

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