IN BRIEF: Mitsui agrees copper cathode offtake from Taseko's Florence
Mitsui & Co - Tokyo-based conglomerate - Subsidiary Mitsui USA enters into agreements with Florence Copper LLC for copper cathode offtake and an equity conversion right. Says Florence plans to produce low-carbon copper cathode in Arizona, and Mitsui will pay USD50 million to cover part of the development costs. Says Florence plans to produce copper using the in-situ recovery for extracting the metal from underground deposits. This method will "enable mining operation with carbon emissions approximately 80% lower compared with conventional copper mining, and also a low environmental burden, since no shovels, trucks, or other heavy machinery are used to extract copper". Expects construction to take 18 months, and then production will start. Read More