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.


Julian Luk

October 09, 2020

03:15 GMT

Hong Kong