The Australian Sandfire, who quotes in the country's stock market with a capitalization of about 1.Australian 000 million dollars (around 650 million euros), has reached an agreement to buy the Matsa Minera (dyed water mines) for 1.865 million US dollars (about 1.600 million euros) to one of the sovereign funds of Abu Dhabi, Mubadala, and to the firm of raw materials of Singapore Trafigura that shared the property in half since 2015, according to a statement made public this Thursday this Thursday.
Its exposure to a long -term bullish demand perspective for copper, one of the metals extracted from Matsa, is considered key to the transition to clean energy.Matsa's acquisition "immediately transforms Sandfire into one of Australia's largest producers," says the company based in Perth in the statement.
Copper prices reached historical maximums above 10.000 dollars the ton of 10.000 dollars the ton earlier this year due to the growing world economic demand charged impulse.However, concern for the resurgence of the virus and the possible slowdown in China have caused a strong setback around 9.000 dollars.
In any case, Matsa's assessment has shot the compass of the copper price increase, which is revalued more than 40% since the middle of last year.That has caused the owners to be willing to listen to offers for this business, which in 2019 billed 473.5 million euros, with an exploitation benefit (EBIT) of 65.2 million euros and a net result of 41.4 million of euros.Its template is around 800 employees, although it ensures that in total it generates more than 4.000 jobs.
The company, based in Alonaster La Real (Huelva), has three underground mines in operation, with a processing capacity between 4.3 and 4.6 million tons of ore per year.The company owns three mines: dye water, Sotiel and Magdalena.In 2019, Matsa prosecuted a total of 4.2 million tons of the mentioned minerals.
Mubadala paid for half of Matsa around 500 million dollars (about 425 million euros to the current exchange) just over five years ago, according to Bloomberg.The sale price is almost double the initial investment of the fund that controls, along with Carlyle, Cepsa.Its assets under management exceed 230.000 million dollars (about 190.000 million euros), and both the oil company and the mining company are its main investments in Spain.
For its part, Trafigura, based in Singapore, is one of the main companies marketing raw materials in the world.Trafigura supplies, stores, transports and offers a range of raw materials (including oil, refined products, metals and minerals) to customers from the entire planet.
