Trafigura invests EUR300 million in Spanish mining project
26 March 2013 - Trafigura Mining Group marked the start of an expansion project today at its Aguas Teñidas Mine (MATSA) located approximately 110 km north-west of Seville, Spain with a ceremony attended by representatives from the central and regional government and local councils.
The 2.2 million tons per year underground mine and concentrator produces copper, zinc and lead concentrates that also contain some gold and silver. Trafigura will invest over EUR300 million in the asset over the next two years, creating one of the largest mining operations in Spain with the highest standards of production and innovative technology. As a result of this expansion, the life of the mine is expected to be extended to 15 years.
Recent exploration has discovered sufficient mineral seams to justify expansion and a new treatment plant will be built over the next 24 months that can process twice the current amount of ore each year which is exported from the ports of Huelva and Algeciras, to northern Europe, China, Mexico and Brazil. It is estimated that around 1,000 jobs will be created during the construction phase and between one and two hundred permanent staff will be recruited to run the new facilities.
“The expansion project will enable production at MATSA to become more competitive,” said Darryll Castle, CEO Trafigura Mining Group.
The Mining Group was established in 2012 as a wholly owned subsidiary that oversees Trafigura's mining assets. Its strategy is to grow organically and acquire operational control of mining assets worldwide that complement Trafigura’s trading competencies and international presence. The Mining Group is currently active in South and Latin America, Europe, Asia and Africa.
Macarena Valdés – MATSA Press Office: +34 680 526 927 or firstname.lastname@example.org
MATSA Sala de prensa - www.prensamatsa.es
Trafigura's Global Press Office: +44 207 009 1708 or email@example.com
Note to editors
The Trafigura Group is one of the world's leading international commodity traders, specialising in the oil, minerals and metals markets, with 81 offices in 56 countries in six continents.
The Group's primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, coal, refined metals, ferrous and non-ferrous ores and concentrates. It is the world's second largest privately owned non-ferrous and oil trading company.
Founded in 1993, the company is owned by its founding shareholders and senior management. It has achieved substantial growth in recent years, growing turnover from USD18 billion in 2004 to USD120.4 billion in 2012. www.trafigura.com