Arab Today, arab today mubadala and trafigura create joint venture to invest in base metals
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

Mubadala and Trafigura create joint venture to invest in base metals

Arab Today, arab today

Arab Today, arab today Mubadala and Trafigura create joint venture to invest in base metals

Mubadala Development Company
Abu Dhabi - WAM

Mubadala Development Company, Mubadala, the Abu Dhabi-based investment and development company, and Trafigura Beheer), a market leader in the global commodities industry, yesterday announced the signing of an agreement to create a 50/50 joint-venture company to invest in the base metals mining sector, including copper and zinc.

As part of the agreement, Mubadala is acquiring a 50 percent share in Trafigura's flagship mining operation, Minas de Aguas Tenidas, MATSA, which owns the Agua Tenidas, Sotiel and Magdalena mines in southern Spain, which produce copper, zinc and lead concentrates.

"MATSA has a strong competitive position and excellent expansion potential, with capacity expected to more than double over the next two years," said Ahmed Yahia Al Idrissi, Chief Executive Officer, Mubadala Technology and Industry. "Investing in MATSA is a key step in growing and diversifying our existing metals and mining portfolio."

"This builds on our existing sector strategy and partnership with Mubadala. We are identifying new opportunities and investing thoughtfully together, in ways that complement our existing portfolio," said Jeremy Weir, CEO, Trafigura.

A two-year investment and expansion plan by Trafigura for MATSA is nearing completion and included a new treatment plant which has close to doubled annual processing capacity to 4.4 million tonnes per annum.

Under the joint venture, day-to-day operations at MATSA will continue as usual, including existing terms and conditions for employees, contractors and suppliers. This agreement is subject to relevant regulatory approvals.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mubadala and trafigura create joint venture to invest in base metals Arab Today, arab today mubadala and trafigura create joint venture to invest in base metals

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mubadala and trafigura create joint venture to invest in base metals Arab Today, arab today mubadala and trafigura create joint venture to invest in base metals

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday