Nippon Mining to Invest 1 trillion yen for Metal, Oil Business in 7 years

Nippon Mining Holdings will invest around 1 trillion yen mainly for copper resources for 7 years through fiscal 2014 ending March 2015. The firm targets more than 250 billion yen of recurring profit and more than 12% of return on equity by improving the cost competitiveness for oil refinery and copper smelting. The firm invests 790 billion yen for growth in 7 years including 270 billion yen for copper resources and 50 billion yen for oil resources. The firm develops Caserones copper mine and Quechua copper mine along with bio mining method. The firm also invests 25 billion yen to improve the competitiveness of copper smelting while the firm invests 210 billion yen for oil refinery. The firm invests 105 billion yen for metal recycling and metal electronic materials. The firm tries to improve the profitability through the major investment under the long term business plan. The firm tries to secure stable supply of upper stream resources both for metal and oil while the firm improves the value add chain from metal smelting to processing.