Search Site

Trends banner

Nestle to cut 16,000 jobs

The company's shares shoot up 8%.

Multiply Group buys stake in ISEM

Multiply Group will hold 60.8% of ISEM.

Bosch to cut 13,000 jobs

This is a blow to Germany's ailing car sector.

Aldar ups stake in Aldar Estates

Acquires Modon Holding’s 17.45% stake

Oracle shares up 35%

Huge AI contracts lead to the surge.

Abu Dhabi’s Mubadala and Trafigura Group to sell Spanish mining complex for $1.87bn

Besides MATSA, Mubadala has investments in Canadian miner Equinox Gold and Sociedad Minera de Santander in Colombia.
  • The acquisition is fully funded through a combination of cash, debt and equity
  • The transaction is expected to be completed by March 2022

Abu Dhabi’s sovereign investor Mubadala Investment Company and global commodities trader Trafigura Group will sell the Minas De Aguas Teñidas (MATSA) mining complex in Spain to Sandfire Resources Ltd., an Australian copper mining company, for $1.87 billion

The acquisition is fully funded through a combination of cash, debt and equity, Sandfire which is listed on the Australian Securities Exchange, said in a disclosure.

Mubadala, which has over $243 billion of assets under management, acquired its stake in Trafigura’s flagship MATSA as part of a joint venture to invest in the base metals mining sector. MATSA owns the Aguas Teñidas, Sotiel and Magdalena mines in southern Spain which produce copper, zinc and lead concentrates, with silver by-products.

The transaction is expected to be completed by March 2022, Sandfire said.

Besides MATSA, Mubadala has investments in Canadian miner Equinox Gold and Sociedad Minera de Santander in Colombia.