Sumitomo mulls sale of stake in copper-moly mine Sierra Gorda, KGHM not interested

Japanese conglomerate Sumitomo is mulling the sale of its 45% stake in the Sierra Gorda copper-molybdenum mine in northern Chile, the company announced on Thursday October 8.

Sumitomo Metal Mining and Sumitomo Corp hold stakes of 31.5% and 13.5% respectively in Sierra Gorda currently, while Polish state-owned miner KGHM holds the remaining 55%.

Located in Chile's Antofagasta region, Sierra Gorda produced 108,200 tonnes of copper contained in concentrate and 20.3 million pounds of molybdenum contained in concentrate in 2019.
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Published

Julian Luk

October 09, 2020

03:15 GMT

Hong Kong