The mine, behind schedule ever since it began producing in May 2014, has been affected by a series of technical problems in its ramp-up phase, costing its owners hefty impairment charges.
Mitsui Mining News
The mine, which began producing in May 2014, has suffered a series of technical problems in its ramp-up phase.
The firm created a new division in April to evaluate deals in those areas, and in the past six months has made mining infrastructure-related investments in the U.S. and Africa.
Mitsui, which since 2003 is part of the holding group that controls Vale, is expanding partnerships with the world’s largest iron-ore miner.
The miner confirmed Friday it is in talks “with a potential investor,” but did not name its counterpart.
Japan already allocates 90% of its investment in Chile to mining.
Follows signing of FTA seen as major opportunity for Australian miners.