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Sandfire buys Mubadala JV unit for $1.85bn

Christian Fernsby |
Sandfire has reached an agreement with Abu Dhabi Mubadala Investment Company and global commodities trader Trafigura to acquire one its JV subsidiaries, Minas de Aguas Teñidas (Matsa) for €1.58 billion ($1.85 billion).

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The deal is expected to conclude in the first quarter of 2022.

A leading Spanish mining company, Matsa is the only company among the top 30 in turnover in the province of Huelva located in the Sierra. Its activity has an annual economic impact of about €190 million in the province, including payments to suppliers and contractors, salaries, fees and taxes.

It is the owner of the exploitation rights of the Aguas Teñidas, Magdalena and Sotiel underground mines, all of them in the province of Huelva.

Currently, it generates about 4,000 jobs, between direct, indirect and induced. Its workforce is made up of about 750 people, with 90% permanent employment and an average age of around 42 years for men and 36.5 for women.

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