Mubadala, Trafigura create base metals investment JV
JOHANNESBURG (miningweekly.com) – Abu Dhabi-based investment firm Mubadala Development and global commodities company Trafigura Beheer will establish a 50:50 joint venture to invest in the base metals mining sector.
Under the terms of the deal, Mubadala would also acquire a 50% stake in Trafigura’s Minas de Aguas Teñidas (Matsa), which owned the Agua Teñidas, Sotiel and Magdalena base metals mines in southern Spain.
“Matsa has a strong competitive position and excellent expansion potential, with capacity expected to more than double over the next two years. Investing in Matsa is a key step in growing and diversifying our existing metals and mining portfolio,” commented Mubadala Technology and Industry CEO Ahmed Yahia Al Idrissi.
A two-year investment and expansion plan by Trafigura for Matsa was nearing completion and included the implementation of a new treatment plant, which had nearly doubled processing capacity to 4.4-million tonnes a year.
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