JOGMEC Transfers 40% Copper Offtake Option from Argentina's Josemaria Project to Mitsui
Japan's JOGMEC has sold Mitsui a 40% offtake option for future copper concentrate from Argentina's Josemaria project, ahead of the mine's 2030 production start. The deal secures approximately 286,000 tons annually, representing about 5.5% of Japan's copper concentrate imports.
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Japan's resource agency JOGMEC has sold a 40% offtake option for future copper concentrate from the Josemaria project in Argentina to Mitsui. This agreement comes ahead of the mine's expected production start in 2030.
JOGMEC conducted a public tender for the option at an undisclosed price. The Josemaria project is part of a joint venture between Lundin Mining and BHP, projected to produce around 715,000 metric tons of concentrate annually in its first six years. Mitsui's share is estimated at 286,000 tons per year, accounting for approximately 5.5% of Japan's annual copper concentrate imports.
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