Mubadala and Trafigura confirm Sandfire’s acquisition of MATSA
Published by Will Owen,
Editor
Global Mining Review,
Mubadala Investment Company and Trafigura have confirmed the acquisition of 100% of Minas de Aguas Teñidas (MATSA) by Sandfire Resources for US$1.86 billion.
The transaction is expected to complete in 1Q22, with key conditions precedent including Spanish Foreign Direct Investment and anti-trust merger approval.
Danny Dweik, Head of Industrials at Mubadala, comments:
“MATSA is one of the world’s highest quality copper mines, with strong and experienced executive leadership and more than 2000 highly skilled and productive employees. During the next decade, the company will significantly benefit from global decarbonisation initiatives and we see a bright future for them as part of Sandfire Resources.”
Jeremy Weir, Trafigura’s Executive Chairman and Chief Executive Officer, comments:
“Today’s announcement is the culmination of significant investment in the MATSA mining complex by both Trafigura and Mubadala Investment Company to develop a world-class mining asset with a highly experienced workforce.
“As a long-term owner of the operation, we are pleased that MATSA will become a cornerstone asset in Sandfire’s growing portfolio, at a time when the energy transition is driving significantly higher demand for copper and other strategic metals.”
As part of the transaction, Trafigura will retain the life of mine concentrate offtake agreement for 100% of offtake from MATSA, building on Sandfire’s already well-established relationship with Trafigura.
UBS and BMO Capital Markets acted as M&A advisors to Trafigura and Mubadala Investment Company.
Read the article online at: https://www.globalminingreview.com/mining/27092021/mubadala-and-trafigura-confirm-sandfires-acquisition-of-matsa/
You might also like
Caterpillar launches autonomous off-highway truck at Luck Stone Quarry
Caterpillar has announced it has successfully demonstrated the fully autonomous operation of its Cat 777 off-highway truck.