Austrian investor Cevdet Caner, through NIU Group, has announced the acquisition and strategic renewal of Chilean mining company Minera Tres Valles (MTV). This marks the beginning of a new chapter for MTV, positioning the operation as a reliable and focused local producer of copper and other critical metals for the global market.
The purchase of Minera Tres Valles by NIU Group represents a significant new foreign investment in Chile. It builds on the country's strong institutions, stable financial system and respect for the rule of law. Under its new ownership, MTV will ramp-up operations to increase output and efficiency in full compliance with Chilean regulatory norms and standards.
NIU Group views MTV as a key contributor to the Coquimbo region's economic future and is committed to working closely with local communities to create jobs and generate positive social impact. The company will prioritize transparent and participatory engagement to align operations with local needs. The workforce is expected to grow to over 750 direct employees, with up to 5,000 indirect jobs projected at peak operations, bringing meaningful development opportunities to the surrounding towns of Salamanca, Illapel, and others in Choapa Province.
"We are building a dynamic company that will grow in tandem with the Choapa Province and nearby communities. We are dedicated to supporting local development through initiatives in education, infrastructure, and healthcare, while maintaining our focus on safety, environmental compliance, and open stakeholder engagement," said Caner.
MTV constitutes 8.2 million tonnes of proven and probable reserves which, when combined with processing of third-party ores, will yield potential revenues at current copper prices (~10,000 UISD/t) of USD 1.3-1.5bn. MTV produces Grade-A 99.999% pure electrolytic copper cathodes among the highest quality in the market with 5,000 tonnes of cathodes to be produced in the first year of NIU Group's ownership. Production is forecasted to increase to approximately 13,000 to 15,000 tonnes per annum from 2026.
NIU Group plans to invest further capital into the company to develop and expand mining operations to realise the asset's replacement value, estimated to be USD 750m to 1bn at a minimum.
Minera Tres Valles spans 460 square kilometres of exploratory lands. The mine has additional resources of 21.8 million tonnes of ore, a figure that includes only 5% of total land explored to date. There is significant exploration potential and associated metal production upside that NIU Group will realise. The current life of mine of 8 years has potential to increase to 20 years, with total potential revenues in excess of USD 3bn after exploration.
The mining operation features an advanced underground mine (Papamono) utilising Incline Block Caving (IBC) for extraction, and an open-pit mine (Don Gabriel) planned for development within three years. The integrated plant includes cutting edge and environmentally friendly crushing, leaching, and SX/EW processing capabilities, capable of processing 180,000 tonnes of ore per month and producing 18,500 tonnes of high-quality Grade-A copper cathodes per month, including from third-party ores. Minera Tres Valles has a state-of-the-art, fully integrated processing plant and benefits from being the only such facility within a 200km radius.
Cevdet Caner, owner of NIU Group, said, "The scaling up of Minera Tres Valles is a major step forward in guaranteeing the sustainable production of critical metals, while building long-term relationships with the communities surrounding MTV. We are proud to breathe new life into the operation that aligns so closely with our vision of becoming a leading Western mining investor focused on inputs necessary for advanced industries and future energy requirements globally."
Located approximately 200 km north of Santiago, within the Chalinga, Cárcamo, and Chuchiñí valleys, near the towns of Salamanca and Illapel in the southern Coquimbo Region, the operation is strategically positioned in Chile, renowned as a world-class mining jurisdiction.
The Minera Tres Valles operation is currently undergoing an environmental review under Chile's regulatory framework. As part of the new ownership's vision for a more compatible and sustainable operation, the company is fully committed to complying with all environmental requirements that result from this process. This reflects NIU Group's focus on aligning operations with the highest standards of environmental responsibility.
NIU Group is a leading Europe and US-based investment company focused on entrepreneurship and value creation, with the goal of becoming a fully integrated mining investor and operator with assets across North America, Latin America, Africa, and Europe. Austrian entrepreneur Cevdet Caner has invested in the mining and property sectors for over two decades. NIU Group plans to make further mining acquisitions in 2025, building a diverse portfolio of critical assets that drive long-term growth and align with the global demand for key inputs to advanced industries and cutting-edge technologies.
Minera Tres Valles Fact Sheet
- The mine has a replacement value of USD 750m to 1bn
- Current production of 5,000 tonnes per annum will increase to 13,000-15,000 in a short timeframe
- MTV produces Grade-A 99.999% pure electrolytic copper cathodes
- The asset is a state-of-the-art facility with diversified ore sources (underground and open pit)
- Mine employees will increase by 5x when operations are fully ramped up, with considerable local economic development impact envisioned
- MTV possesses additional exploration potential of more than 400 square kilometres
- The eight-year current life of mine could increase to 20 years, given vast exploration Potential
View source version on businesswire.com: https://www.businesswire.com/news/home/20250424496992/en/
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