Sumitomo Metal Mining Target 100Kt Nickel Output in 2013

Sumitomo Metal Mining announced on Monday the firm expands annual nickel production to 100,000 tonnes with aggressive investment under the new 3-year plan from fiscal 2007 to fiscal 2009 ending March 2010. The firm doubles the electrolytic nickel output through second phase of Coral Bay Nickel project in Philippine and expansion. The firm invests 60 billion yen for nickel out of total 140 billion yen of investment in the 3 years. The firm tries to expand the business to join the nonferrous major club through aggressive investment. The firm increases the nickel output by 80% to 100,000 tonnes in 2013 from current 56,000 tonnes. The firm doubles the electrolytic nickel output to 65,000 tonnes while the firm launches second phase of Coral Bay Nickel with annual 10,000 tonnes of capacity in spring of 2009 to secure raw material. The firm starts operation of Goro Nickel project in New Caledonia in October-December 2007. The firm tries to start the operation of second high-pressure acid leaching process at annual 30,000 tonnes of nickel output in 2012 after the site selection and feasibility study. The firm also explores new nickel resources in Solomon Islands. The firm expands the electrolytic copper output to 450,000 tonnes at Toyo smelter and refinery in Ehime from current 410,000 tonnes. The firm can secure 40% of copper ore requirement from captive mines after Cerro Verde mine in Peru reaches full capacity operation. The firm tries to develop more own copper resources targeting to secure two third of copper ore requirement from captive sources in future.