Aurubis AG has acquired Codelco's share in Deutsche Giessdraht, the copper wire rod plant in Emmerich, Germany, that both producers jointly owned, Aurubis said on Monday January 22.
The transaction is subject to approval by Germany's federal anti-trust office. The financial terms of the transaction were not disclosed. Before the acquisition, Aurubis had a 60% stake in Deutsche Giessdraht and Chilean miner Codelco, via its subsidiary Codelco Kupferhandel, controlled the remaining 40% of the joint venture. Deutsche Giessdraht produces around 240,000 tonnes per year...