Mitsui & Co., Ltd. ("Mitsui", Head Office: Chiyoda-ku, Tokyo, President & CEO: Masami Iijima) hereby announces that Corporación Nacional del Cobre de Chile ("Codelco"), Corporación de Fomento de la Producción ("Corfo"), and Mitsui have entered into a memorandum of understanding as described hereinafter, to jointly promote business in innovative technology development around copper and mining industries, and Mitsui will invest in a venture capital fund under Corfo's support program ("MOU").
Mitsui, Codelco, and Corfo signed the MOU at Codelco's headquarters in Santiago, Chile, which was then exchanged amongst the parties in the presence of Her excellency Ms. Michelle Bachelet, President of the Republic of Chile and his excellency Mr. Shinzo Abe, Prime Minister of Japan, at Palacio de La Moneda (the executive office of the president) on July 31, 2014. Please refer to the attached news release issued jointly by Mitsui, Codelco, and Corfo.
- Mitsui, Codelco, and Corfo confirmed their intention to explore, identify, assess and further pursue new business opportunities in the development of innovative technology around copper and mining industries.
- Mitsui and Codelco have decided to invest in the venture capital fund to promote innovative applications of copper and efficient mining operation. Corfo is going to initiate their relevant process for financing to the said fund.
Chile is the largest copper producer in the world, and serves as the perfect hub to make investment in the companies and businesses providing innovative applications of copper or innovative solutions for the efficient mining operation. It is noteworthy that maintaining a level of mining operation would require stable supply of water and energy as well as environmental harmonization. Mitsui, under its strategic alliance with Codelco, intends to contribute to the sustainable growth and the continued competitiveness of the Chilean copper industry, and to promote new business opportunities.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.