Japanese major trading firm, Sojitz Corporation plans to increase molybdenum output by 60% to 16 million pounds per year in 2012 at Canadian Endako mine, in which the firm has 25% interest. The mine increases the production to full capacity level after the 60% expansion completing in as early as October 2010. The firm expects with the expansion work, the mining operation improves productivity and yield in ore processing. The firm aggressively increases the capacity to prepare for the demand increase when the world supply gets tight toward 2013 due to strong demand for stainless steel and special steel.
Sojitz’s senior general manager of ferrous materials & steel products unit, Shigeru Ohno said the firm has expected global molybdenum supply is very tight in 2012 and 2013. The firm can launch the full capacity operation of Endako to meet the best timing while the expansion is slightly behind the schedule due to tight materials supply for the work. The firm also expects with better drum typed floatation facility, the process improves the productivity along with better metal recovery. The mine confirmed around 16 years of molybdenum reserve through the expansion. The mine explores adjacent sites for future resources while the mine has no additional expansion plan immediately. Depending on the exploration, the mine has additional reserve. Sojitz’s molybdenum interest increases by 60% to 4 million pounds per year by the expansion of Endako. The firm and its joint venture partner, Thompson Creek Metals acquired the mine in 1997. The mine restarted the expansion in 2010 after temporarily suspension in 2008 due to global recession.Japan Steel Scrap Composite Prices (Sangyo Press)
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