Mitsubishi to acquire 30% stake in Mantoverde copper mine

Japan-based Mitsubishi Materials Corporation (MMC) has signed an agreement to acquire a 30% interest in Mantos Copper’s Mantoverde copper mine and associated projects in Chile for $263mn. The mine is located in the Atacama region of northern Chile and expected to become operational in 2023. It has 2.1 million tonnes (Mt) of copper reserves and 5.7Mt of copper resources. In 2015, Mantos Copper, owned by a consortium led by Audley Capital and Orion Mine Finance, acquired Mantoverde and Mantos Blancos mines from Anglo American for $300mn.

Source: Mining Technology