Sumitomo Corporation Increased Its Investment in Chile’s Copper Resources Dos Amigos Project, Investing Approximately CAD 48 Million

Published: Aug 28, 2026 14:06 (GMT+8)

Save

Sumitomo Corporation of Japan announced on August 28 that, through a special purpose vehicle (SPV) established on a 50:50 basis with G Mining Group, it will participate in the Dos Amigos copper-gold project in Chile. The SPV subscribed for approximately CAD 48 million in private placement shares of Canada’s Tintina Mines, with Sumitomo contributing about CAD 24 million. Upon completion of the transaction, the SPV will hold about a 25% equity stake in Tintina, giving Sumitomo an effective economic interest of approximately 12.5% in the project. This round of financing will be used to acquire the remaining interest in Dos Amigos and to advance drilling, feasibility studies, environmental assessments, and permitting work in preparation for the final investment decision (FID). The project is located in Chile’s Atacama Region at an elevation of about 800 meters, near highways, the power grid, and coastal logistics facilities. The 2026 PEA showed measured and indicated resources of approximately 101 million mt and inferred resources of approximately 256 million mt. The project is expected to adopt open-pit mining and flotation processing, with ore throughput of 35,000 mt per day and a mine life of about 25 years, and is expected to produce an average of 37,000 mt of copper and 57,000 ounces of gold per year. The project is currently still in the study and permitting stage and has not yet generated incremental copper supply.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

Tight supply coupled with rising sentiment to hold back from selling kept secondary copper prices resilient at high levels [SMM Weekly Review on Secondary Copper Raw Materials Outside China]

10 hours ago

Oct 16, 2026 18:39 (GMT+8)

[Mingyi Electronics Launches High-Aspect-Ratio Gantry Line Electroplating Equipment for AI Servers and IC Substrates]

According to Sanfu New Materials, Mingyi Electronics under Sanfu New Materials has launched a new product series—high-aspect-ratio gantry line electroplating equipment, capable of supporting the production of boards with aspect ratios of 40:1 and above. This series of equipment can be customized according to client needs, is compatible with phosphorized copper balls and insoluble anode systems, and can meet the electroplating requirements for high-end circuit boards such as high-aspect-ratio AI server PCB boards and IC substrates. The equipment has passed various technical tests and has gained recognition from leading server PCB manufacturing clients in China. Multiple equipment orders are already in hand, and the production lines for this series of equipment have entered the production and delivery stage.

Oct 16, 2026 18:39 (GMT+8)

Oct 16, 2026 18:37 (GMT+8)

US Inflation Exceeds Expectations, Combined with Inventory Buildup in China, Copper Prices Rebound Under Pressure [SMM Macro Weekly Review]

Oct 16, 2026 18:37 (GMT+8)