Abu Dhabi’s Mubadala sells Spanish mining firm MATSA

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Abu Dhabi-based Mubadala Investment Company and Trafigura have completed the sale of 100 percent of Spanish mining operation Minas de Aguas Teñidas (MATSA).

The deal to sell to the Australian mining and exploration company Sandfire Resources has been completed following receipt of the necessary regulatory approvals.

The company’s processing plant has the capacity to process more than 4.4 million tones of copper and polymetallic ore per year.

The sale is the culmination of significant investment in the MATSA mining complex and aligns with Mubadala’s mandate to recycle capital to maximize returns to its shareholder. Mubadala acquired its 50 percent stake in MATSA from Trafigura in 2015.

Danny Dweik, head of industrials at Mubadala said: “Our concentrated efforts over the past six years have helped to fully realize the potential of this asset by significantly upgrading its standards of technological innovation, increasing its productive capacity and greatly improving its sustainability standards.

“The company is now well-positioned to benefit from global decarbonisation initiatives under Sandfire’s ownership.”