Japanese trading house Mitsui & Co Ltd said it had sold its 25 percent stake in Silver Bell Mining to a unit of Grupo Mexico that already owns the remaining 75 percent in the operator of Silver Bell copper mine in Arizona. The sale comes as part of Mitsui's three-year business plan, mapped out in May, to sell off 700-900 billion yen ($6.4-8.2 billion) of assets by March 2017 to fund investment plans and seek returns to shareholders."After examining our global assets, we've decided to sell some assets which are not among our top priority list," a Mitsui spokesman said on Thursday.The firm, which did not disclose the deal value, plans to book a one-time profit of about 5 billion yen for the July-September quarter from the sale of stake in the copper mine that produces 20,000 tonnes of copper cathode a year.This gain has been discounted into Mitsui's earnings outlook for the establishment year to March 2015, the spokesman said.
Bell Copper Corporation (Bell) is an exploration-stage company engaged in the acquisition and exploration of prospective base metals properties in United States and Mexico. Shares of BCU fell by 25.0% or $-0.005/share to $0.02. In the past year, the shares have traded as low as $0.01 and as high as $0.04. On average, 37368 shares of BCU.V exchange hands on a given day and today's volume is recorded at 5400.
MITSUI & CO., LTD. is a Japan-based trading company. Shares of MITSY traded higher by 0.96% or $3.15/share to $332.00. In the past year, the shares have traded as low as $259.25 and as high as $336.81. On average, 767 shares of MITSY exchange hands on a given day and today's volume is recorded at 2504.
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