TOKYO -- Japanese trading group Mitsubishi Corp. will participate in the development of a new copper mine in Chile by investing in a Canadian mining company, as demand grows for the metal critical to electric vehicles and offshore wind farms.
Mitsubishi will acquire a roughly 5% stake in Marimaca Copper through a private placement of new shares for 20 million Canadian dollars ($15.1 million). Under the agreement, announced by Marimaca on Wednesday, Mitsubishi can raise its interest to about 10% depending on business progress.
