Jun. 24, 2026Marubeni Corporation
Marubeni, through its wholly owned subsidiary MARUBENI METALS & MINERALS (CANADA) INC. (hereinafter, “MMM”), has invested in Valhalla Metals Inc. (hereinafter, “Valhalla”), a Canadian exploration company, and is conducting the exploration of non-ferrous metals, primarily copper, in the Ambler Mining District (hereinafter, “Ambler District”) in northwestern Alaska, United States. Valhalla recently acquired the Smucker Property from Teck American Incorporated, a subsidiary of Teck Resources Limited (hereinafter, “Teck”), a leading Canadian mining company. As consideration for the acquisition, Valhalla issued new shares to Teck. Marubeni also invested an additional approximately CAD 1.7 million through participation in Valhalla’s private placement (hereinafter, the “Transaction”).
Project FeaturesValhalla has been advancing an exploration project at the Sun Property located in the Ambler District, in which Marubeni invested and participated in 2022. The Ambler District is a highly promising prospective area known to host world-class deposits containing high-grade copper and other non-ferrous metals (zinc, lead, gold, and silver). Furthermore, by welcoming Teck, a company with a strong operational track record in Alaska, as a shareholder, and simultaneously acquiring the Smucker Property, also located in the Ambler District, from Teck, Valhalla has expanded its exploration area for prospective deposits.
Background and ObjectivesDriven by the construction of data centers due to the spread of AI, increasing global electricity demand driven by electrification and infrastructure development in emerging economies, and the tight supply and demand conditions for power transmission lines, global copper demand is expected to rise significantly in coming years. Through this project, Marubeni aims to secure long-term copper resources in North America and contribute to the stable supply of copper in response to growing demand.
Future OutlookUnder its Mid-Term Management Strategy GC2027, Marubeni has established a resource investment strategy to expand interests in high-quality resources while enhancing cost competitiveness through the expansion of existing assets. In its existing portfolio, Marubeni is advancing the expansion project at the Centinela copper mine in Chile. As a new growth area, Marubeni is also participating in exploration projects targeting copper and other non-ferrous metals in Alaska, United States, and Manitoba, Canada, as well as in a development study of a critical minerals project in Australia involving the production of feedstock containing rare metals and rare earth elements (the “Copi Project”). The Copi Project received environmental approval from the Government of New South Wales, Australia, in May 2026. Marubeni remains committed to contributing to the stable supply of metal resources while continuing to expand its resource portfolio.
Valhalla Overview
MMM Overview
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