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Business

Japanese metal producers selling rights to Canadian mine

Mitsubishi Materials, Dowa, Furukawa see few years remaining in copper site

TOKYO -- Three Japanese companies will sell their combined 50% interest in a Canadian copper mine, as the development is seen having only about five more years of operational life.

Metal producer Mitsubishi Materials owns a 35.71% interest in the Huckleberry mine while Dowa Metals & Mining and machinery manufacturer Furukawa each hold 7.14% stakes. The group agreed to sell its portion to Canadian partner Imperial Metals for a total of $2 million.

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