Sandfire has reached an agreement with Trafigura and Mubadala Investment Company to acquire 100% of MATSA – a world-class copper asset in Spain – for A$2,572 million.
Located in the highly regarded Iberian Pyrite Belt of Spain, MATSA is a large, high-quality, low-cost, long-life underground copper operation which comprises three underground mining operations and a world-class 4.7Mtpa central processing facility.
Karl Simich, Sandfire’s Managing Director and CEO, said the transaction immediately transforms the company into one of Australia’s largest copper focussed producers.
“Base metal assets which offer this combination of scale, grade, mine life and exploration upside are extremely rare globally,” Mr Simich said.
“The MATSA acquisition transforms Sandfire into a first quartile copper producer of global scale and allows us to leverage our skill set to deliver on our growth ambitions to create one of the highest quality and most compelling copper exposures on the ASX.
The Transaction is expected to complete in the March 2022 quarter.
