RE:RE:This is concerning. Published May 23/23I know JowStockIQ is more dialed in than insiders at the project, but Sojitz had big enough concerns to want out. In an article published last year in Mining Technology, Sojitz, a large Japanese firm that held 12.5% of the mine gave the following reasons as to why they wanted out.
The mine has an average annual production of 135Mlb of copper and 2.5Mlb of molybdenum (100% basis). It is expected to have operational life until 2038.
This divestment by the trading house comes due to unstable operations, rising risks of environmental liabilities, and deteriorating grades.
The deal is expected to close by the end of next month.