Finance > M-a

Mitsubishi ups Quellaveco stake to 40%

Anglo American (ASX:AAL) has agreed to sell down its interest in the Quellaveco copper project in Peru, allowing partner Mitsubishi Corporation to lift its stake to 40% via a US$600 million transaction.

Finance > M-a

Mitsubishi ups Quellaveco stake to 40%

Anglo American (ASX:AAL) has agreed to sell down its interest in the Quellaveco copper project in Peru, allowing partner Mitsubishi Corporation to lift its stake to 40% via a US$600 million transaction.

Mitsubishi ups Quellaveco stake to 40%

Anglo remains the majority holder of the Quellaveco copper project in Peru

Mitsubishi already owns 18.1% of the project and will acquire a further 21.9%, while Anglo will retain the remaining 60%.