Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsubishi Materials Corporation    5711   JP3903000002

MITSUBISHI MATERIALS CORPORATION

(5711)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Japan's Mitsubishi Materials buys 30% stake in Chile copper mine

share with twitter share with LinkedIn share with facebook
02/07/2020 | 08:37am EDT

Japan's Mitsubishi Materials Corp (MMC) has bought a 30% stake in Mantoverde copper mine and an associated copper project from Mantos Copper for $236 million to secure more concentrates for its smelters, the company said on Friday.

The mine, which has 2.1 million tonnes of copper reserves, is owned by a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, which control Mantos Copper.

Mitsubishi, Japan's third-biggest copper smelter, will acquire the minority stake by undertaking newly issued shares and will receive 30% of metal produced.

The partners plan to spend $731 million to expand facilities and build a concentrator to extract and process sulphide ore.

"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," Mantos board chairman John MacKenzie said in a statement.

Demand for copper, mainly used in power and construction, is expected to boom in coming years because of its use in electric vehicles, which need twice as much of the metal as those with internal combustion engines.

This has spurred buying activity in South America, which produces most of the world's copper.

Japanese companies have been active in the region, with Sumitomo snapping up 30% of Teck Resource's Chile mine and Mitsubishi holding a stake in Anglo American's Quellaveco operation in Peru.

RBC Capital markets acted as financial advisers for MMC in the deal, which is expected to close at the end of October.

(Reporting by Zandi Shabalala, additional reporting by Fabian Cambero in Santiago; writing by Cassandra Garrison; editing by David Goodman and Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -2.18% 5.815 Delayed Quote.8.36%
DEERE & COMPANY 3.32% 164.52 Delayed Quote.-8.18%
JASON CO., LTD. 5.08% 724 End-of-day quote.98.90%
JUST GROUP PLC -0.86% 48.62 Delayed Quote.-37.90%
LINE CORPORATION 1.09% 5560 End-of-day quote.3.93%
MITSUBISHI MATERIALS CORPORATION 4.44% 2327 End-of-day quote.-21.83%
WILL GROUP, INC. 2.10% 631 End-of-day quote.-49.60%
WORLD CO., LTD. 3.59% 1471 End-of-day quote.-45.34%
share with twitter share with LinkedIn share with facebook
Latest news on MITSUBISHI MATERIALS CORPO
05/27MITSUBISHI MATERIALS CORPORATION : Annual results
CO
05/22MITSUBISHI MATERIALS CORPORATION : annual earnings release
04/08MITSUBISHI MATERIALS : Summary of Explanation and Q&A on Conference Call
PU
03/31MITSUBISHI MATERIALS : The Metals Production Plans in the 1st Half of the fiscal..
PU
03/30MITSUBISHI MATERIALS CORPORATION : Ex-dividend day for final dividend
FA
03/25MITSUBISHI MATERIALS CORPORATION : Announces Grand Opening of New Technical Cent..
AQ
03/16MITSUBISHI MATERIALS : Supports Recommendations of the Task Force on Climate-rel..
AQ
02/25MITSUBISHI MATERIALS : OFC 2020 Exhibition Announcement
PU
02/17MITSUBISHI MATERIALS : Summary of Explanation and Q&A on Conference Call for the..
PU
02/12MITSUBISHI MATERIALS CORPORATION : 3rd quarter results
CO
More news
Financials
Sales 2020 1 522 B 14 189 M 14 189 M
Net income 2020 -55 828 M -520 M -520 M
Net Debt 2020 465 B 4 336 M 4 336 M
P/E ratio 2020 -5,46x
Yield 2020 3,44%
Capitalization 305 B 2 854 M 2 840 M
EV / Sales 2019
EV / Sales 2020 0,51x
Nbr of Employees 28 601
Free-Float 89,2%
Chart MITSUBISHI MATERIALS CORPORATION
Duration : Period :
Mitsubishi Materials Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MITSUBISHI MATERIALS CORPO
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 8
Average target price 2 248,75 JPY
Last Close Price 2 327,00 JPY
Spread / Highest target 5,29%
Spread / Average Target -3,36%
Spread / Lowest Target -9,76%
EPS Revisions
Managers
NameTitle
Naoki Ono Executive President & Director
Akira Takeuchi Chairman
Shunsuke Kisagi Group Manager-Finance & Accounting
Osamu Iida Vice President & General Manager-Technology
Yoshikazu Yasui Director
Sector and Competitors
1st jan.Capitalization (M$)
MITSUBISHI MATERIALS CORPORATION-21.83%2 732
HONEYWELL INTERNATIONAL INC.-19.52%99 978
SIEMENS AG-7.33%97 082
3M COMPANY-13.36%87 919
GENERAL ELECTRIC COMPANY-40.05%58 518
ILLINOIS TOOL WORKS INC.-3.10%54 991