Clean Energy Drives Sumitomo Sale of Chilean Copper Mine Stake

The Firm was intimately familiar with the Sierra Gorda operation, as it had advised both Sumitomo Metal Mining and Sumitomo Corporation when they acquired their 45 percent interest and entered into joint venture arrangements related to the mine in 2011. It has also represented Sierra Gorda on financing matters for nearly a decade.

sumitomo buys 45 25 stake in sierra gorda

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 investment value and …

South32 aims to make a swan from copper's ugly duckling

South32 chief executive Graham Kerr believes the unflattering reputation of Chile's Sierra Gorda mine enabled his company to secure a …

South32 to Acquire Stake in Sumitomo's Sierra Gorda Copper ...

Australian mining company South32 has signed an agreement with Sumitomo to buy a 45 percent stake in the Sierra Gorda Copper Mine in Chile for $2.05 billion.. The transaction amount include an upfront cash payment of $1.55 billion and a contingent price-linked consideration of up to $500 million, which will be paid at threshold copper production rates and …

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 investment value and profit more ...

South32 is frontrunner to buy stake in Chilean copper ...

South32 has emerged as a front runner to buy a 45% stake in Chile's large copper project as the world's largest miners seek to secure more metal supplies. The Perth-based company said it was uncertain whether the deal would close or another bidder would appear if it could pay $ 2 billion in shares in the Sierra Gorda project.

South32 Is Frontrunner To Buy Stake In Chilean Copper ...

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 150,000 tonnes of copper concentrate. The open-pit mine is located in the Atacama Desert in northern Chile, about 60km south-west of the city of Calama.

South32 buys $2.8b stake in Chilean copper mine ...

Home Business South32 buys $2.8b stake in Chilean copper mine ... for a 45 per cent stake in a mine located near BHP's Chilean copper operations. Acquisition of a stake in the Sierra Gorda mine comes three weeks after Sandfire Resources acquired a Spanish copper mine and marks the biggest transaction in South32's six-year history.

South32 buys into copper by taking Sumitomo's 45% stake in ...

Posted by Paul Moore on 14th October 2021 South32 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's prolific Antofagasta copper region for an upfront cash consideration of $1.55 billion.…

South32 boss Graham Kerr hails 'cheap' $2.7bn copper deal

While KGHM still has the right to match South32's offer for Sumitomo's share in Sierra Gorda, Mr Kerr told analysts he believed the Polish miner was comfortable with its …

South32 is frontrunner to buy stake in Chilean copper ...

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 …

South32 agrees to pay A$2.05bn for stake in Chile copper ...

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 copper output of BHP's Olympic Dam mine in South Australia. Sierra Gorda has byproducts of molybdenum, gold and silver.

Sumitomo Metal Decided to Sell Stake in Sierra Gorda ...

SEATTLE (Scrap Monster): Japanese Sumitomo Metal Mining and Sumitomo Corporation have agreed to sell their stakes in Chile's Sierra Gorda copper mine. The joint 45% stake held by them will be sold to Australian mining major South32 Ltd for approximately $1.5 billion. The Japanese companies were planning to exit the loss-making joint venture project …

South32 locks 45% stake in Sierra Gorda copper mine ...

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...

Sumitomo to sell Chilean copper mine stakes to South32 …

Japan's Sumitomo Metal Mining and Sumitomo Corp agreed to sell their stakes in the Sierra Gorda copper mine in Chile to Australian miner South32 Ltd for around $1.5 billion, the companies said on ...

South32 buys 45% stake in Chile copper mine; key things to ...

South32 Ltd on Thursday entered into a binding agreement to purchase a 45% stake in the Sierra Gorda copper mine in Chile for an upfront cash consideration of US$1.55 billion.As a result, the Australian diversified miner will now have joint control over the asset alongside a Polish mining group KGHM Polska Miedz.

South32 to buy $1.55bn stake in South Gorda copper mine

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%.

Sumitomo to sell Chilean copper mine stakes to South32 for ...

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 net debt adjustment, the companies said on Thursday. The Japanese sellers, who together hold a 45% stake, had said last year that they were considering exiting ...

South32 to buy stake in Chilean copper mine in potential ...

South32 (OTCPK:SOUHY) agrees to acquire a 45% stake in the Sierra Gorda copper project in Chile from Sumitomo for as much as $2.05B.; The Australian miner says it will pay $1.55B in cash up-front ...

South32 locks 45% stake in Sierra Gorda copper mine

South32 (ASX, LON, JSE: S32) said on Thursday it would proceed with the acquisition of a 45% stake in Sierra Gorda copper mine in Chile, as project partner KGHM Polska Miedz SA (WSE: KGH) chose ...

South32 to Acquire Stake in Sumitomo's Sierra Gorda Copper ...

Australian mining company South32 has signed an agreement with Sumitomo to buy a 45 percent stake in the Sierra Gorda Copper Mine in Chile for $2.05 billion.

South32 taps UBS, BoA & Mizuho to fund Sierra Gorda ...

South32 is understood to have blown its competitors out of the water to buy a 45 per cent stake in the Sierra Gorda copper mine in Chile. ... for the stake in the mine owned by Japan's Sumitomo ...

Sumitomo Metal Mining doubles annual profit f'cast on ...

November 8, 2021. TOKYO, Nov 8 (Reuters) – Japan's Sumitomo Metal Mining Co Ltd more than doubled its annual profit forecast on Monday thanks to surging prices of copper and nickel as well as a one-off gain from selling its stake in the Sierra Gorda copper mine in Chile. The Japanese miner and smelter lifted its net profit estimate for the ...

South32 to Acquire 45% Stake in Chile's Sierra Gorda …

South32 to Acquire 45% Stake in Chile's Sierra Gorda From Sumitomo Provided by Dow Jones Oct 13, 2021 4:24 PM PDT By Stuart Condie SYDNEY--South32 Ltd. will pay up to $2.05 billion for a 45% stake...

South32 to Acquire 45% Stake in Chile's Sierra Gorda From ...

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 into binding agreements with Sumitomo Metal Mining and Sumitomo Corp. to acquire the interest. It said it would pay $1.55 billion in cash up-front, plus a contingent price-linked ...

South32 snags $US1.55bn Chilean copper stake - Australian ...

Sierra Gorda has more than 1 billion tonnes of copper-molybdenum-gold sulphide mineral reserves with a mine life of more than 20 years. South32 believes there is growth and improvement potential at the site which includes a de-bottlenecking project to improve plant throughput to around 50 million tonnes per annum.

South32 to acquire stake in Sierra Gorda copper mine for ...

Australian mining company South32 has signed an agreement with Sumitomo to buy a 45% stake in the Sierra Gorda copper mine in Chile for $2.05bn.

ESG: South32 and Whitehaven Coal show the cost of capital ...

But a shift into copper – Sierra Gorda will mean South32's EBITDA contribution from the base metal will rise from zero to 19 per cent …

South32 buys into copper by taking Sumitomo's 45% stake in ...

Posted by Paul Moore on 14th October 2021 South32 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's prolific Antofagasta copper region for an upfront cash consideration of $1.55 billion.

Mining mergers and acquisitions Archives - Page 2 of 42 ...

South32 buys into copper by taking Sumitomo's 45% stake in Sierra Gorda October 14, 2021 South32 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's prolific Antofagasta copper region for an ...

South32 to acquire Sumitomo's stake in Chilean copper mine ...

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 Japan-based Sumitomo Metal Mining and Sumitomo Corporation. According to the agreement, South32 will purchase a 45% indirect interest in the project company Sierra Gorda SCM (SG SCM).

Sumitomo, the owner of San Cristóbal, sells its stake in ...

"Australian miner South32 agreed to buy a 45% stake in Chile's Sierra Gorda copper mine, in a deal worth up to $ 2.05 billion, from Sumitomo Metal Mining and Japan-based Sumitomo Corporation," it confirmed. the portal specialized in the area Mining Technology.

South32 eyes early 2022 wrap up for Chile copper project ...

The deals will see it acquire a 45% stake in Sierra Gorda, a long-life copper mine, through an indirect interest in Sierra Gorda SCM. Completion of the deal is expected in "early 2022", South32 ...

South32 will acquire 45% stake in Sierra Gorda Copper Mine ...

The two companies jointly own nearly half of Sierra Gorda, with $1.55 billion in cash, plus price-linked consideration of up to $500 million in fiscal year 2022-2025. Poland's KGHM owns 55 per cent of the open-pit business in northern Chile and has a pre-emptive right to buy Sumitomo's stake, but will not exercise it.