Mubadala and Trafigura complete creation of joint venture to invest in base metals
14th October 2015 - Mubadala Development Company (“Mubadala”), the Abu Dhabi-based investment and development company, and Trafigura Group Ptd Ltd (“Trafigura"), a market leader in the global commodities industry, have today completed the creation of a 50/50 joint-venture company to invest in the base metals mining sector.
As part of the joint venture agreement, Mubadala has now acquired a 50 percent share in Trafigura’s flagship mining operation Minas de Aguas Teñidas (MATSA), which owns the Agua Teñidas, Sotiel and Magdalena mines in southern Spain which produce copper, zinc and lead concentrates.
The new joint venture company will harness the experience developed with MATSA for further expansion and investments in other base metal mining assets around the world.
ENDS
For further information contact:
Mubadala Press Office: Kinana Sarrage on Tel: +971 2 413 1916 or ksarrage@mubadala.ae
Trafigura Press Office: Tel: +41 22 592 45 28 or media@trafigura.com
MATSA Sala de Prensa: www.prensamatsa.es
Notes to Editors
About Mubadala Development Company
Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns, contribute to the growth and diversification of Abu Dhabi’s economy, and create opportunities for current and future generations in the United Arab Emirates.
Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, semiconductors, metals & mining, oil & gas, renewables, information & communications technology, healthcare, real estate & infrastructure, utilities, and defense services.
About Trafigura
Founded in 1993, the Trafigura Group has become one of the world’s leading independent commodity traders, specialising in the oil, minerals and metals markets. The company has achieved substantial growth in recent years, growing revenue to USD127.6 billion in 2014. Primary trading activities are the supply and transport of oil and petroleum products and metals and minerals. The trading business is supported by industrial and financial assets including global oil products distribution company Puma Energy; joint venture company DT Group; global terminals operator Impala; Trafigura’s Mining Group and Galena Asset Management. The Trafigura Group is owned by 600 of its 5,300 employees who work in 36 countries around the world. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.
