Tucson-based Asarco now has full ownership of the Silver Bell copper mine west of Marana.
Asarco, through a subsidiary, AR Silver Bell, has completed the purchase of Mitsui’s 25 percent stake in the mine, Asarco President and Chief Operating Officer Manuel Ramos announced Thursday.
Asarco will now be able to process 100 percent 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.
The terms of the sale were not released by Asarco, and a company spokesman did not return a call for comment Thursday.
However, the Mexican news service Agencia Reforma reported in July that a company spokesman said the estimated value of the acquisition from Tokyo-based Mitsui & Co. was between $115 million and $120 million.
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Asarco, a subsidiary company of Grupo Mexico, partnered with Mitsui in 1996 to acquire the mine.
The Silver Bell Mine produces 22,000 tons of copper cathode per year.