Nippon Mining & Metals Invests for Chilean Mining Robot JV

Nippon Mining & Metals (NMMC) announced on Friday the firm invests for Chilean joint project to develop, produce and sell mining and smelting robots. The firm will invest US$ 980,000 or 110 million yen for a joint venture of which Corporacion Nacional del Cobre de Chile (CODELCO) also holds a partial share.The JV is named Mining Industry Robotic Solutions (MIRS) and located in Santiago, Chile with a capital of US$ 11.02 million. Highservice, Chilean mining technology service provider, holds 53% share in the JV with 36% by CODELCO, 9% by NMMC and 2% by Kuka Roboter, German robot maker.MIRS covers development, production, engineering, maintenance and sales of robots and related products for metal mining and smelting. The JV also provides robot technology licenses.NMMC has strengthened relationship with CODELCO in its copper mining and smelting business field through an establishment of another joint venture with CODELCO, Bio Sigma, in Chile to develop bio technology for copper mining. NMMC enhances the cooperation with CODELCO by the investment into MIRS.