South American Real Estate News

Mitsubishi Corporation will participate in desalinated water to the Chilean mining industry

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Mitsubishi Corporation, through Cleanairtech Sudamerica S.A. (CAT), which is a company jointly operated with CAP, will provide desalinated water to Cerro Negro Norte Iron Ore Mine from 2013 for approximately 20years. The water will be supplied through a pipeline from a newly constructed desalination plant in the Copiapo region, located south of the Atacama Desert. The project cost is 180 Million USD, which will be one-third financed by equity and two-thirds by loans.

In parts of north of Chile, the shortage of underground water, which is utilized as industrial, household and agricultural water, has become a problem due to lack of snowfall. For new mine development, securing alternative water resource has become a requisite to obtain necessary environmental permits, which has rapidly increased the demand for water.

Mitsubishi Corporation, under the Midterm Corporate Strategy 2012 which was announced in July 2010, has designated global environmental business as a strategic domains and is actively promoting water business through its Global Environment Business Development Group. By utilizing the know how and experience gained through its domestic and overseas water business operations, MC will promote this business together with CAP, MC’s long term business partner, and plan to expand this water procurement business to neighboring mines.

Contact the Gateway to South America team to learn about the best investment opportunities in the region. The company is a benchmark for foreign investors wishing to invest in Argentina, Brazil, Uruguay and Chile, providing expert advice on property acquisition and investment tours.

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