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Japan's Mitsui to raise stake in Chile's Collahuasi copper mine 1:50am EST [Reuters]

MITSUI & CO ADR ## (MITSY)  More Company Research Source: Reuters
US:NASDAQ Investor Relations: mitsui.com/us
PDF Japan's Mitsui to raise stake in Chile's Collahuasi copper mine | Reuters Reuters Staff 2 Min Read TOKYO (Reuters) - Japanese trading house Mitsui & Co Ltd said on Friday it will reshuffle its copper assets in Chile, increasing its stake in the Collahuasi mine and selling a small stake in the Los Pelambres mine, boosting its overall copper volumes. Mitsui said it would buy a 3.6 percent stake in Collahuasi from JX Nippon Mining & Metals, a unit of JXTG Holdings Inc, taking its total stake to 11.03 percent. It would sell its 1.25 percent stake in Los Pelambres to JX Metals and trading company Marubeni Corp. Mitsui said the deals would boost its equity copper output volume by about 15,000 tonnes a year to 140,000 tonnes a year. The move is part of its effort to optimize its portfolio by replenishing and accumulating high-quality assets, it said. Financial terms were not disclosed. JX Metals’ holding in Los Pelambres will rise to 15.79 percent from 15 percent, and Marubeni’s stake will r [Read more]

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