Transfer of Interest in the Sierra Gorda Copper Mine to South32
First written in FY2022-Q2. 1 of 2 entries say "Achieved", first in FY2022. Latest entry: FY2022.
3 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual report
「On 22 February 2022, the company transferred all of its interests in SC Sierra Gorda Finance B.V. to South32 Limited, which operates businesses mainly in Australia.」
The transfer of the interests in the holding company and finance company related to the Sierra Gorda copper mine to South32 was completed on 22 February 2022. A non-recurring gain on the revaluation and sale of shareholder loans was also recorded. - FY2022-Q2First statedAnnual report
「The company resolved at a management meeting held on 13 October 2021 to transfer all of its equity interests in the holding company it owned to South32 Limited, which operates businesses worldwide, mainly in Australia, in aluminium, coal, manganese and nickel, and entered into an equity transfer agreement with South32 Limited on 14 October. The transfer price is approximately US$510 million in total for the holding company and the finance company (Note). Subject to the satisfaction of certain conditions agreed in the transfer agreement and the receipt of required approvals, completion of the transfer is scheduled for March 2022. Following completion, the holding company will no longer be a specified subsidiary of the company. The impact on consolidated results is expected to be a gain of approximately ¥30 billion.」
An agreement was signed to transfer to South32 the entire equity interests in the holding company and finance company that hold an indirect 13.5% interest in the operating company of the Sierra Gorda copper mine. The total transfer price is approximately US$510 million, completion is scheduled for March 2022, and the impact on consolidated results is expected to be a gain of approximately ¥30 billion. The agreement also states that, if conditions relating to copper prices and production volumes are met by the end of 2025, an additional amount of up to US$150 million will be received.