News

The first shipment of copper concentrate from the Mantoverde Mine in Chile, in which Mitsubishi Materials Corporation ("MMC") holds a 30％ interest, arrived at our Naoshima Smelter & Refinery (Naoshima Town, Kagawa County, Kagawa Prefecture). On October 24, a ceremony was held at the smelter in the presence of Capstone Copper, our partner in the mine, and MMC's management and representatives.

After MMC acquired interest in the Mantoverde Mine in 2021, we began collaborating with our partner Capstone Copper on a deep sulfide ore development project. Production of copper concentrate commenced in late June 2024, with commercial production starting in late September 2024.
The produced copper concentrate is anticipated to be clean with low impurities and MMC has the right to offtake 30％ of the copper production.

We will strive to enhance our corporate value by working to acquire interests through continuous mining investment and to secure a stable supply of copper concentrate, which are the business strategies of the Metals Company in the Medium-term Management Strategy FY2031.

<First shipment ceremony>

Overview of the Project

Property holder

MMC (30％), Capstone Copper (70％)

Location

Atacama Region of Chile / Approx. 50 km from coastline, 880 m.a.s.l. / Desert
area with extremely low rainfall, but with seawater desalination equipment in place

Total mineral resources

5,700,000 t Cu

Total mineral reserves

2,100,000 t Cu

Mining method

Open pit

Total copper production

1,700,000 t Cu over mine life

Mine life

2042

[Related release]

July 1, 2024
First Copper Concentrate Production at Mantoverde Copper Mine in Chile
URL: https://www.mmc.co.jp/corporate/en/news/2024/news20240701.html

February 12, 2021
Notice related to the completion of the acquisition of a minority stake in the Mantoverde copper mine in Chile
URL: https://www.mmc.co.jp/corporate/en/news/2021/news20210212.html