Matsa could be one of the largest copper assets to come to the market in Europe this year. Trafigura 50% owns and operates the Agua Tenidas, Sotiel and Magdalena mines, which produce copper, zinc and lead concentrate on the Iberian Pyrite Belt in Spain’s southwestern region of Andalusia.
Discovered in 1980 and first mined in 1998, the Aguas Teñidas mineral deposit in Huelva, south-western Spain – commonly known by the acronym, MATSA – is one of the largest copper ore reserves in Europe.The mine sits on an expansive volcanogenic massive sulphide (VMS) deposit of copper-zinc-lead-sulphide ore, which forms part of the Iberian Pyrite Belt.
Matsa’s annual production approached 100,000 metric tons of copper equivalent last year, according to the group’s annual report.
The commodities trader sold a 50% stake in Matsa to Abu Dhabi-based investment and development company in 2015 as part of plans to team up on base-metals investments. Mubadala paid about $500 million for the stake, a person familiar with the matter said at the time. ____________
Just cut and pasted this to begin discussion.
Ash
S32 Price at posting:
$2.85 Sentiment: Buy Disclosure: Held
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