Mitsubishi Corp. to Double Equity Al, Cu in 5 Years

Mitsubishi Corporation tries to expand the nonferrous metals interests by expanding the resource investment. The firm targets one of the world top 10 suppliers for copper and aluminium in 5 years from current top 20. The firm tries to seek next growth under growing nonferrous metals demand. The firm tries to double the equity metal both for copper and aluminium. The firm has annual 230,000-240,000 tonnes of equity metal for aluminium while the firm didn’t disclose the volume for copper. With the higher position, the firm tries to expand the presence in the industry for better profitability. The firm also trades 10% of world trading for precious metals. The firm also eyes potential resource investment in precious metals for better value chain. The nonferrous metals division represented more than a third of 158.2 billion yen of net profit for metal group including ferrous raw materials and steel business divisions for the year ended March 2008. The nonferrous metals unit expects higher profit under higher metal price and demand for the year ending March 2009.