PRESS RELEASE: The agreement was made through Caitan, a 50-50 joint venture established with Técnicas de Desalinazación de Aguas under the Spanish ACS group.

Caitan will supply fresh water to Spence for a 20-year period. This project involves the construction of a desalination plant and a water conveyance system of approximately 150km in the area of Antofagasta in the north of Chile.

There is increasing concern about water shortages affecting the copper mining industry and industry in general. Demand is, therefore, expected to increase by approximately 14% per year. Mitsui stated that it will continue its efforts to capture demand for water infrastructure and contribute to the development of Chile’s fast growing economy, through the enhancement of related infrastructure.

Mitsui has identified the machinery & infrastructure business area as one of the core pillars in its new medium-term management plan, and aims to build a robust profit base. Mitsui will pursue creating synergy with its other mining development projects in Chile by exercising its comprehensive strengths.