News

On November 26, a ceremony was held to mark the completion of a sulfide ore facility (*) at the Mantoverde Copper Mine in Chile, in which Mitsubishi Materials Corporation ("MMC") has a 30% interest.
Approximately 300 people attended the ceremony, including Minister of Mining Aurora Williams, Chilean government officials, ambassadors from Japan, Canada, and Australia, local community stakeholders, financial institutions, and people involved in the project.

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.
(*) Sulfide ore facility: A facility that produces copper concentrate from ores in which copper and other metals are combined with sulfur

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]

October 28, 2024
Hosted a Ceremony to Celebrate the Arrival of the First Shipment of Copper Concentrate from the Mantoverde Copper Mine in Chile
URL: https://www.mmc.co.jp/corporate/en/news/2024/news20241028.html

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