For inquiries on this matter, please contact
- Mitsui & Co., Ltd.
Corporate Communications Division
- Contact form
Mitsui & Co., Ltd. ("Mitsui", Head Office: Chiyoda-ku, Tokyo, President & CEO: Masami Iijima) signed an agreement for the sale of its 25% stake in the Silver Bell Mining LLC, which Mitsui possesses through its subsidiaries, to AR Silver Bell, Inc., which possesses the remaining 75%. Silver Bell Mining operates the Silver Bell Copper Mine located in Arizona, U.S.A., and AR Silver Bell is a subsidiary of Asarco LLC (a subsidiary of Grupo Mexico S.A.B. de C.V.). The said stock sell-off was completed on September 22, 2014.
One of the basic policies of Mitsui's New Medium-term Management Plan released in May 2014 was to "pursue growth investments and returns to shareholders based on strong cash generation capabilities." The sale of Silver Bell Mining shares is in line with Mitsui's basic policy of improvement through reshuffling its portfolio of assets and executing strategic asset recycling.
Mitsui will maintain, even after the sale of its equity share, good relationships with Asarco and Grupo Mexico built in the course of operating the business together, and will actively seek new business opportunities by exercising Mitsui's comprehensive business engineering capabilities in the mineral and metal resources domain, as well as in other fields.
|Ownership||AR Silver Bell 75%, Mitsui's subsidiary 12.5%, Mitsui USA's subsidiary 12.5%|
|Location||70 km northwest of Tucson, Arizona, U.S.A.|
|Production||Copper cathode (approx. 20,000 t/y)|
|History||Dec. 1995 AR Silver Bell and Mitsui establish Silver Bell Mining, with respective equity shares of 75% and 25%
May 1996 Construction begins on copper cathode plant
Jul. 1997 Copper cathode plant commences production
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.