Impala and MDC sign investment agreement with MMX
Trafigura Group subsidiary Impala and Mubadala Development Company PJSC today signed an agreement with MMX to become shareholders of the Sudeste Superport in Brazil. The agreement follows on the Memorandum of Understanding the three parties signed on September 10, 2013.
Closing of the agreement is subject to the satisfaction of certain conditions, including receipt of regulatory approvals and the execution of agreements with the lenders to MMX and its subsidiaries regarding the terms of MMX's restructured debt. The transaction is expected to close before the end of 2013.
The Sudeste Superport is a major iron ore port terminal located in the State of Rio de Janeiro, Brazil. The terminal is designed to handle cape-size vessels and has an initial capacity to handle 50 million tons of iron ore per year, with development plans to increase its capacity to 100 million tons per year. Construction work on the port began in July 2010, with commercial operations expected to begin in mid-2014.
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About Mubadala Development Company
Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and that contribute to the growth and diversification of its economy.
Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, semiconductors, metals & mining, oil & gas, renewables, information communications & technology, healthcare, real estate & infrastructure, and services.
For more information about Mubadala please visit http://www.mubadala.ae.
About the Trafigura Group
The Trafigura Group is one of the world's leading international commodity traders, specialising in the oil, minerals and metals markets, with 81 offices in 56 countries in six continents. The Group’s primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, coal, refined metals, ferrous and non-ferrous ores and concentrates. It is the world’s second largest privately owned non-ferrous and oil trading company.
Founded in 1993, the company is owned by its founding shareholders and senior management. It has achieved substantial growth in recent years, growing turnover from USD18 billion in 2004 to USD120.4 billion in 2012.
Impala, a wholly owned subsidiary of Trafigura, was formed in 2010 following the consolidation of Trafigura's bulk commodity, warehousing and logistics activities. Impala currently employs over 1,500 people globally and has world class expertise extending across the non-ferrous concentrates, refined metals, iron ore and coal sectors. Operations include the blending of metal concentrates in Chile, China, Mexico and Peru, the transportation of copper from the Democratic Republic of Congo and Zambia to global export markets, and LME and non-LME registered warehousing operations. Impala operates 50 warehousing sites in 30 different countries worldwide, with more than 4,000,000 m2 of owned and leased storage capacity. In addition to this, Impala owns and operates a number of key ports, including the Burnside coal terminal in Louisiana USA and is currently constructing a multimodal logistics system along the Magdalena River in Colombia.
For more information visit www.trafigura.com