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Mitsui Sells Stake in Silver Bell Mining to Grupo Mexico
Sep. 26, 2014 09:07AM PST
Base Metals Investing Reuters reported that Japanese trading house, Mitsui (TYO:8031) announced the sale of its stake in Silver Bell Mining to a unit of Grupo Mexico (OTCMKTS:GMBXF). Mitsui owned a 25 percent stake in the miner, while Grupo Mexico held the remaining 75 percent interest in the Arizona copper mine.
Reuters reported that Japanese trading house, Mitsui (TYO:8031) announced the sale of its stake in Silver Bell Mining to a unit of Grupo Mexico (OTCMKTS:GMBXF). Mitsui owned a 25 percent stake in the miner, while Grupo Mexico held the remaining 75 percent interest in the Arizona copper mine.
As quoted in the publication:
The sale comes as part of Mitsui’s three-year business plan, mapped out in May, to sell off 700-900 billion yen ($6.4-8.2 billion) of assets by March 2017 to fund investment plans and seek returns to shareholders.
“After examining our global assets, we’ve decided to sell some assets which are not among our top priority list,” a Mitsui spokesman said on Thursday.