February 7, 2020 / 11:34 AM / 19 days ago

Japan's Mitsubishi Materials buys 30% stake in Chile copper mine

LONDON, Feb 7 (Reuters) - Japan’s Mitsubishi Materials Corp (MMC) has bought a 30% stake in Mantoverde copper mine and associated copper project for $236 million to secure more concentrates for its smelters, the company said on Friday.

The mine, which has 2.1 million tonnes of copper reserves, is owned by a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group. (Reporting by Zandi Shabalala Editing by David Goodman)

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