Mining News

South32 spends big on Chile copper mine

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Diversified miner South32 on Thursday announced that it would spend $1.55-billion to acquire a 45% interest in the Sierra Gorda copper mine in Chile.

The company has entered into two binding conditional agreements with Sumitomo Metal Mining and Sumitomo Corporation for the acquisition of a 45% indirect interest in Sierra Gorda S.C.M. (SGSCM) for an upfront cash consideration of $1.55-billion.

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