Sumitomo Metal Mining to Invest 43.1 Billion Yen to Nickel Development in the 2nd Half of F2012

Sumitomo Metal Mining announced investment amount for the second half of fiscal 2012 on 6th. Total of investment amount including amount for overseas metal resource projects was 43.1 billion yen, and at full business year it decreased by 43% from the previous fiscal year to 66.5 billion yen. It for refining accounted for about 60%, and 26.8 billion yen is invested for existing Nickel project including construction cost of Taganito Project in Philippines and investing to increase electric Nickel, in the second half. As new project in the second half, the firm allocate 100 million yen for the development of bottom side ore deposit in Hishikari Mines which is planned to invest a total of 3.2 billion yen.