Sandfire Resources to Buy Spanish Copper Mine Complex
Posted on 09/23/2021
Australia-based Sandfire Resources Limited inked a deal to buy the Minas de Aguas Tenidas copper mine complex in southern Spain from a 50:50 joint venture owned by Mubadala Investment Company and commodity firm Trafigura Group. The sales price is US$ 1.87 billion. Sandfire Resources is buying the Matsa site. The mines comprise of three underground operations and a central processing facility. The mine also produces zinc and lead concentrate.
Sandfire funded the deal by raising equity and using an existing credit facility and cash.
Vinva Investment Management Limited recently increased its shares in Sandfire, now having 5.07% voting power according to regulatory filings.