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Mitsui Mining to sell Collahuasi copper mine stake

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Global Mining Review,

According to a recent Reuters report, Mitsui Mining and Smelting is set to sell its 0.97% stake in Chile’s Collahuasi copper mine, paving a path towards its exit from the copper mining sector.

The stake is reportedly being sold to Mitsui & Co as part of an asset reshuffle.

The financial details relating to the deal have not been released, apart from the fact that the sale would result in a one-off gain of 9.5 billion yen (US$87.5 million) for the current financial year.

The sale is due to be completed by the end of this month.

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