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Japan's Sumitomo Metal Mining and Sumitomo Corp, which together hold a 45% stake, had said last year that they were considering exiting the operation...
Looks like a great partner for Sierra Gorda joint venture. South32 buys into copper by taking Sumitomo's 45% stake in Sierra Gorda
Sumitomo sold a 45 percent stake in Sierra Gorda to an Australian mining and metallurgical company for US $ 2.2 billion a few weeks ago.The Sierra Horda open-pit copper and molybdenum mine is located in the Antofagasta area in the Atacama Desert, and was launched in mid-2014.
Australian miner enters Chile with Sierra Gorda buy. Cariola Díez Pérez-Cotapos in Santiago and UK-Australian firm Herbert Smith Freehills have helped Australian miner South32 buy a stake in Chilean copper mine Sierra Gorda from Japanese conglomerate Sumitomo in a deal worth over US$2 billion. 19 October 2021
Sumitomo Metal Mining put its stake in Sierra Gorda on the block a year ago. KGHM, a state-backed Polish miner, owns the rest of the project and operates the …
South32 acquires 45% stake in Sierra Gord mine for USD1.4 billion Home Articles Latestnews South32 acquires 45% stake in Sierra Gord mine for USD1.4 billion Adviser platform About us Contact us and help
South32 CEO, Graham Kerr, said: "Our acquisition of an interest in the Sierra Gorda copper mine is a major milestone for South32. By adding copper to our portfolio, along with our recent commitments to substantially increase our green aluminium production, we are making significant progress reshaping our portfolio for a low carbon …
Sumitomo Metal Mining Co Ltd and Sumitomo Corp have agreed to sell their combined 45% stake in the Sierra Gorda copper mine in Chile to Australian mining company South32 for US$1.55 billion. South32 has mandated UBS, BoA and Mizuho to arrange a US$1 billion acquisition facility.
(Reuters) -Japan's Sumitomo Metal Mining Co Ltd and Sumitomo Corp agreed to sell their stakes in the Sierra Gorda copper mine in Chile to Australian miner South32 Ltd for $1.55 billion including ...
Sierra Gorda is a conventional open pit mine. (Credit: KGHM Polska Miedz) Australian mining company South32 has signed an agreement with Sumitomo to buy a …
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Japanese miner Sumitomo Metal (TYO: 5713) said on Thursday it was reviewing its strategic options regarding its minority stake in Sierra Gorda copper mine in northern Chile, majority-owned by Polish miner KGHM (WSE: KGH). The Asian giant said that selling its 45% holding in the mine was one of the…
45% • 55% • South32 will acquire a 45% interest in Sierra Gorda from Sumitomo Metal Mining • Pro-forma ownership structure (31.5%) and Sumitomo Corporation (13.5%) (collectively Sumitomo) – 45% interest in the Sierra Gorda S.C.M. (SGSCM) (a) incorporated Joint Venture alongside 55% joint venture partner KGHM Polska Miedz, a …
Value accretive acquisition that further positions our portfolio for a low carbon future. South32 will acquire a 45% interest in Sierra Gorda from Sumitomo Metal Mining …
copper producer, for the development of the Sierra Gorda project (the "Project ") a large copper-molybdenum mining project in Chile. To participate in the Project, Sumitomo Metal Mining ("SMM") and Sumitomo Corporation ("SC")(SMM and SC collectively to herein as "Sumitomo") will incorporate a 70:30 joint venture
45% • 55% • South32 will acquire a 45% interest in Sierra Gorda from Sumitomo Metal Mining • Pro-forma ownership structure (31.5%) and Sumitomo Corporation (13.5%) (collectively Sumitomo) – 45% interest in the Sierra Gorda S.C.M. (SGSCM) (a) incorporated Joint Venture alongside 55% joint venture partner KGHM …
Sumitomo Metal Mining put its stake in Sierra Gorda on the block a year ago. KGHM, a state-backed Polish miner, owns the rest of the project and operates the mine, which last year produced almost ...
By Stuart Condie SYDNEY--South32 Ltd. will pay up to $2.05 billion for a 45% stake in Chile's Sierra Gorda copper mine. The Australian diversified miner on Thursday said it had entered...
South32 buys 45% stake in Sierra Gorda copper mine for $1.9bn. NNR • February 22, 2022. LONDON, UK: South32 Limited has acquired a 45% interest in the Sierra Gorda copper mine from Sumitomo Metal… Foresight Solar Fund buys stake in …
Sierra Gorda will be South32's second-largest deal since it listed in 2015 and will add 70,000 to 80,000 tonnes of copper to its portfolio. ... South32 buys stake in KGHM's Chilean mine for $1 ...
SOUTH32 is to buy a 45% stake in the Sierra Gorda copper mine in Chile after agreeing to pay A$2.05bn ... South32 will pay Sumitomo US$1.55bn upfront for the 45% stake with a further US$500m payment on certain production hurdles. Sierra Gorda is expected to produce about 180,000 tons per year of copper; roughly equivalent to the …
sumitomo buys 45 stake in sierra gorda. sumitomo buys 45 stake in sierra gorda For each project scheme design, we will use professional knowledge to help you, carefully listen to your demands, respect your opinions, and use our professional teams and exert our greatest efforts to create a more suitable project scheme for you and realize the project …
The team at Gide Warsaw advised KGHM Polska Miedź S.A. on the sale of a 45% stake in the Sierra Gorda joint venture by the other shareholder, the Japanese corporation Sumitomo, to the Australian mining group South32. The work specifically involved the scope of the client's overall rights under the joint venture structure and …
Scrap Buy Requests; Junk Cars; Steel Prices. United States; China; Europe; World Export Market ... Sumitomo Metal Decided to Sell Stake in Sierra Gorda Copper Mine; Mining News October 14, 2021 09:00:59 PM. Sumitomo Metal Decided to Sell Stake in Sierra Gorda Copper Mine. By Paul Ploumis. ScrapMonster Author. South32 intends …
the acquisition of a 45% interest in the Sierra Gorda copper mine from Sumitomo Metal Mining and Sumitomo Corporation (collectively Sumitomo) 1. The final purchase price includes a 1.4B upfront cash US$ ... Refer to market release "South32 to acquire a 45% interest in the Sierra Gorda copper mine" dated 14 October 2021. The estimates ...
According to the deals signed last month, South32 will acquire 45% of the project company Sierra Gorda SCM (SG SCM) from Sumitomo Metal Mining and Sumitomo Corporation. Sumitomo Metal Mining currently holds a 31.5% stake in SG SCM while Sumitomo Corporation owns 13.5%.
KGHM Polska Miedz S.A. said on October 07, 2020 it has been informed by Sumitomo Metal Mining Co., Ltd., Sumitomo Corporation and Smm Sierra Gorda Inversiones Limitada about planned sale of 45%... 40f240d62a.adAW4ZzRrQTGjT9-iLQc5Kg0NUNaqqE9o_U1CFebf1E.BIN308ib_1Cy0kZTzN0qu5h3UQk0yO5s …
Sumitomo Metal Mining Co Ltd and Sumitomo Corp have agreed to sell their combined 45% stake in the Sierra Gorda copper mine in Chile to Australian mining company South32 for US$1.55 billion. South32 has mandated UBS, BoA and Mizuho to arrange a US$1 billion acquisition facility.
By Stuart Condie SYDNEY--South32 Ltd. will pay up to $2.05 billion for a 45% stake in Chile's Sierra Gorda copper mine. The Australian diversified miner on Thursday said it had entered... 8410f62a00e121386a92f.VKj4mLvZ7DZfCVChs7y-s7u-iRQ358ZaFKErYMUYk0Q.JfGe_uyJgXEYfDuX_-7Y4s_k6mxukY5vXvscBadg …
October 15, 2021. Credit: South32. Australian mining company South32 has agreed to buy a 45% stake in Chile's Sierra Gorda copper mine, in a deal worth up to $2.05bn, from …
The Australian miner entered in October into two binding conditional agreements with Japan's Sumitomo Metal Mining and Sumitomo Corp, which together owned almost half of Sierra Gorda, for $1.55 ...
The mineralisation of Sierra Gorda was discovered in 2006, and since September 2011, the project has been a joint venture currently controlled by KGHM Polska Miedź S.A. (55%), Sumitomo Metal Mining (31.5%) and Sumitomo Corporation (13.5%). Successive removal of the overburden in order to access the deposit began in 2012 and …
South32 Limited agreed to acquire 31.5% stake in Sierra Gorda S.C.M. from Sumitomo Metal Mining Co., Ltd. for $1.6 billion on October 14, 2021. ... The final combined consideration for a 45% stake being acquired includes $1.4 billion upfront cash payment plus a contingent price-linked consideration component of up to $500 million, …
South32 Ltd has announced that it has entered into two binding conditional agreements with Sumitomo Metal Mining and Sumitomo Corporation (collectively Sumitomo) to acquire a 45% interest in the Sierra Gorda copper mine in Chile via the acquisition of a 45% indirect interest in Sierra Gorda S.C.M. (SGSCM) for an upfront …
Sumitomo Metal Mining currently holds a 31.5% stake in SG SCM while Sumitomo Corporation owns 13.5%. The remaining 55% is held by KGHM Polska …
LONDON, UK: South32 Limited has acquired a 45% interest in the Sierra Gorda copper mine from Sumitomo Metal Mining and Sumitomo Corporation (collectively Sumitomo). The final purchase price includes a US$1.4bn upfront cash payment plus a contingent price-linked consideration component of up to US$500mn, payable at …
South32 Ltd. has agreed to pay $1.55 billion to units of Sumitomo group for a 45% stake in the Sierra Gorda copper project in Chile, boosting its exposure to a metal that's in high demand for its role in the clean energy transition. "We are actively reshaping our portfolio for a low carbon world and the acquisition of an interest in Sierra Gorda will …