Sumitomo Metal Mining Boosts Perth Subsidiary to Join Winu Copper-Gold Project

MT Newswires Live
Oct 20

Sumitomo Metal Mining (TYO:5713) will increase the capital of its subsidiary SMM Perth Pty Ltd., making it a specified subsidiary, to fund its planned 30% stake in the Winu copper-gold project in Western Australia, owned by a Rio Tinto (ASX:RIO) subsidiary, according to a Monday filing on the Tokyo Stock Exchange.

The capital injection, totaling $197.8 million and AU$104 million, will ensure SMM Perth can participate in the project once regulatory approvals are obtained. SMM Perth, wholly owned by Sumitomo Metal Mining, was established in January.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10