Asarco’s subsidiary AR Silver Bell, Inc. has entered into a sale and purchase agreement with subsidiaries of Mitsui & Co., Ltd. (“Mitsui”) to purchase Mitsui’s 25 percent stake of Silver Bell Mining L.L.C. Silver Bell Mining operates a copper mine west of Marana, Arizona, according to Asarco President and COO Manuel Ramos.
The transaction was concluded immediately after signing.
Going forward, Asarco will then be able to process 100 % of the cathode produced at Silver Bell at its copper refinery in Amarillo, Texas. Silver Bell has an estimated 20 years of copper ore reserves remaining and employs 171 people.
Asarco anticipates maintaining its good relationship with Mitsui which was cultivated over the years through the joint ownership of Silver Bell.
ASARCO is a subsidiary company of Grupo Mexico with approximately 2,720 employees. The company is an integrated copper mining, smelting and refining company headquartered in Tucson, Arizona and operates mines, mills and a smelter near Tucson and a refinery in Amarillo, Texas.