Sumitomo (TYO:8053) has acquired an effective 25% interest in Chile's Dos Amigos copper-gold project through an investment in Tintina Mines' private placement.

Sumitomo, via a 50:50 special purpose vehicle (SPV) with G Mining Group, subscribed for CA$48 million of Tintina Mines' CA$91 million private placement, according to a Friday statement.

The project, located in the Atacama Region, hosts measured and indicated resources of 101 million metric tons and inferred resources of 256 million metric tons, with an expected 25-year mine life.

The funding will help Tintina, a Canadian mine development company listed on the TSX Venture Exchange, secure 100% ownership of the asset and advance it toward a final investment decision.