Trafigura, Mubadala Said to Weigh Sale of Spanish Copper Miner - Bloomberg
Commodities trader Trafigura Group and Abu Dhabi wealth fund Mubadala Investment Co. are considering the sale of a Spanish copper miner amid rising demand for the base metal, people familiar with the matter said.
The joint owners have been discussing a potential disposal of Minas de Aguas Tenidas, known as Matsa, according to the people. The operations could be valued at about $2 billion or more in a sale, the people said, asking not to be identified because the information is private.
Matsa could be one of the largest copper assets to come to the market in Europe this year. The company owns the Agua Tenidas, Sotiel and Magdalena mines in southern Spain, which produce copper, zinc and lead concentrates.
The venture could attract interest from large miners seeking to expand their copper portfolios, according to the people. The price of the metal has jumped about 40% over the past year amid renewed demand from China. Trafigura and Mubadala are likely to appoint an adviser to assist with the sale in the coming days, the people said.
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