Minotaur Exploration Limited (ASX: MEP) has announced that Mitsubishi Materials Corporation and Mitsubishi Corporation, have joined them in a third joint venture, the Boorowa Joint Venture. The tenements are adjacent to, but independent of, the Cowra Joint Venture tenements involving Minotaur, Gateway Mining and Mitsubishi.
The tenements are located around Boorowa and Cowra in the southern extension of the Ordovician volcanic belt. Initial work will focus on defining targets from follow up of regional stream and soil geochemical anomalies, a technique that has proved effective on the adjacent Cowra Joint Venture tenements.
This is Minotaur’s third joint venture with Mitsubishi which has interests in copper mines and smelters throughout the world. Mitsubishi Materials Corporation has invested in some of the largest copper deposits such as Escondida as well as in operations at Los Pelambres (Chile), Batu Hijau (Indonesia) and Huckleberry (Canada). Mitsubishi Corporation’s investments in copper mines include Escondida, Los Pelambres and Antamina (Peru). Mitsubishi Materials Corporation has three copper smelting plants in Japan and Indonesia, treating a total of 1.9M tonnes of concentrates annually.
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