Published On: Fri, Oct 16th, 2015

Mubadala and Trafigura complete creation of joint venture

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uae-69508Mubadala Development Company, the Abu Dhabi-based investment and development company, and Trafigura Group Pte. Ltd., a market leader in the global commodities industry, today completed the creation of a 50/50 joint-venture company to invest in the base metals mining sector.

As part of the joint venture agreement, Mubadala has now acquired a 50 percent share in Trafigura’s flagship mining operation, Minas de Aguas Tenidas, MATSA, which owns the Agua Tenidas, Sotiel and Magdalena mines in southern Spain which produce copper, zinc and lead concentrates.

The new joint venture company will harness the experience developed with MATSA for further expansion and investments in other base metal mining assets around the world.

Source: Emirates news agency

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