Marubeni Corp to Triple Coal Mine Rights by 2015

Marubeni Corporation, Japanese major trading house, aims to triple the coal mine interests to 10 million tonnes per year by 2013. The firm will have acquired the interests at 6 million tonnes per year by 2010 due to the investment in last year. The firm expects global demand for minerals and resources would keep strong with the economic growth in developing countries. Marubeni Corp restarts the investment into the core businesses covering copper, aluminum or coal. The firm aims continuous profit growth for the future by expanding material interests. Marubeni Corp plans capital expenditure at 170 billion yen as Metal & Mineral Resource Division in fiscal 2008 (Apr08-Mar09), which was 36 billion yen in fiscal 2007. In fiscal 2008, 150 billion yen will be invested for Chilean copper mine interests while 20 billion yen for coal mine interests.The firm decided the investment for QCMM, an Australian coal company, and Resource Pacific, another Australian coal company, in fiscal 2007. Marubeni Corp’s coal interests expanded to 3.5 million tonnes in fiscal 2007 from previous 2.8 million tonnes. The firm plans to expand coal interests to 6 million tonnes in 2010 when coal mine in Lake Vermont, Australia will start operation in 2009. The firm examines additional acquirement of coal interests in Indonesia, South Africa or Mongolia.As for copper, Marubeni Corp doubled its mine interests to about 60,000 tonnes per year by the large investment in Chile. The interests are expected to reach 120,000 tonnes in and after 2011. As for aluminum, the firm plans to increase the interests to 200,000 tonnes within next 5 years from current 120,000 tonnes mainly by the expansion of existing businesses in Canada and Australia.The firm is also expanding iron ore interests in Australia and Brazil. The firm examines to start new iron resource projects such for ferrous scrap.In April, Marubeni Corp established a rare metal team in Metal & Mineral Resource Division to start investment for chrome, manganese, nickel or tungsten. The firm plans to increase Metal & Mineral Resources Division’s consolidated net profit by 22% to 27 billion yenin fiscal 2008 from fiscal 2007, while which is prospected to exceed 30 billion yen thanks to rising resource prices. The firm aims to increase the profit to over 70 billion yen until fiscal 2009.