MC and Jetti Agree to Form Strategic Business Alliance

Jun 08, 2021 08:10 JST

Source: Mitsubishi Corporation

TOKYO, Jun 08, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it has increased its stake in Jetti Holdings, Inc. (Jetti), an American natural resources company that has developed a cutting-edge, catalytic technology that allows for effective extraction of copper from primary sulfide ores. MC and Jetti have also agreed to form a new business alliance.

With global efforts to decarbonize intensifying, demand is on the rise for copper, a material that it vital for growth in electric vehicles and renewable energies. Unfortunately, this rise in demand is depleting copper resources and forcing mines to produce more low-grade ore.

Jetti's catalytic technology enables heap and stockpile leach extraction of copper trapped in primary sulfide ores, which are usually discarded due to their low copper yields being insufficient to justify traditional processing methods. Jetti has already confirmed the commercial-scale effectiveness of its technology through its trial application at the Pinto Valley copper mine in Arizona. If the technology can be applied more broadly, it should result in more efficient development, conservation, and supply stability of the world's limited copper resources.

MC has been supporting the technology's commercialization since 2019, when it first invested in Jetti. The investment was made both to secure a stable supply of copper and contribute to MC's efforts to address the problem of diminishing natural resources and other societal challenges. Resource majors and other enterprises have taken advantage of Jetti's latest stock offering to invest in the company, but inasmuch as MC was already a strategic shareholder in Jetti, its commitment has been the largest. Furthermore, by forming a new business alliance, Jetti and MC will be strengthening their framework for future collaborations and making effective use of MC's assets to promote the widespread adoption of Jetti's technologies. MC counts among those assets its network in the copper resources industry and general sales capabilities. The partners are set to commence discussions on the proactive adoption of Jetti's catalytic technology at mines that have thus far been unable to extract copper efficiently due to their high concentration of low-grade, primary sulfide ores.

Anticipating that global demand for copper will remain robust for at least the foreseeable future, MC's Mineral Resources Group has identified it as one of its core products. The group will be leveraging this latest business alliance to help customers secure a stable supply of copper, which will both support growth of the world economy and strengthen MC's push to simultaneously create economic, societal, and environmental value.

Source: Mitsubishi Corporation
Sectors: Metals & Mining