Japan’s Mitsubishi Materials Corp said on Friday it had completed its purchase of a 30% stake in Chile’s Mantoverde copper mine from Mantos Copper for $275 million, as the shift to a low carbon economy boosts demand for the metal.
Japan’s third-biggest copper smelter also said $520 million in project finance had been completed.
The expansion will see Mantoverde produce an average of 110,000 tonnes of copper and 33,000 ounces of gold per year from 2023 to 2030