Mitsubishi joins copper mine project in Chile

Yomiuri Shimbun file photo
Mitsubishi Corp. logo

TOKYO (Jiji Press) — Mitsubishi Corp. said Thursday it will invest 200 million Canadian dollars (¥21.56 billion) in a Vancouver-based company to take part in a copper mine development project in Chile.

The trading house aims to secure supply of copper, a metal used in production of electric vehicles.

Mitsubishi will acquire 5% of Marimaca Copper Corp., which focuses on the copper project in the South American country, a stake set to be increased to 10% within two years. The project is slated to start production around 2030.