Japan’s Mitsubishi Corp (MC) plans to increase its stake in North American mining equipment specialist Jetti Resources. Both companies will also form a strategic partnership for the latter’s copper expansion technology.
Mitsubishi has been an investor in Jetti Resources since 2019 to ensure a stable supply of copper and to collaborate over addressing issues of depleting natural resources, noted the company on Thursday. Jetti Resources’ trademark catalytic technology enables miners to unlock copper from resources that would be otherwise difficult with traditional methods.
Mitsubishi Corp hasn’t disclosed the investment amount nor its plans of using the new technology in its operations.
Jetti Resources has also received $50mn from mining conglomerates BHP and Freeport McMoran earlier in June this year in a bid to advance their copper portfolios.