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Grupo Mexico to Gain 100 Percent Ownership of Silver Bell Copper Mine
Jul. 23, 2014 09:15AM PST
Base Metals Investing Mineweb reported today that Grupo Mexico (BMV:GMEXICOB) is closing in on Mitsui & Co.’s (TYO:8031) 25 percent interest in the Silver Bell Copper Mine. The mine is located in Arizona, and Grupo Mexico is looking to pay roughly $120 million for its stake, Mineweb said.
Mineweb reported today that Grupo Mexico (BMV:GMEXICOB) is closing in on Mitsui & Co.’s (TYO:8031) 25 percent interest in the Silver Bell Copper Mine. The mine is located in Arizona, and Grupo Mexico is looking to pay roughly $120 million for its stake, Mineweb said.
As quoted in the publication:
Grupo Mexico’s Asarco division owns 75% of the copper operation, which includes four open pits located in Marana, Arizona, which yielded about 46 million pounds in 2012. The current copper cathode production rate in the SX/EW operation is about 67 tons per day. Copper reserves will extend mine life through 2031.