Mitsubishi Materials completed the acquisition of a 30% stake in Mantoverde Copper mine from Mantos Copper for $263m.

Mitsubishi Materials, a manufacturer of cement products, copper and aluminum products, completed the acquisition of a 30% stake in Mantoverde Copper mine, a mine located in the Atacama region of northern Chile, from Mantos Copper, a mining company, for $263m. “This transaction is a step forward in Mantos Copper’s strategy to expand and extend the life of our high-quality copper assets while lowering its position in the cost curve," John MacKenzie, Mantos Chairman.