Marubeni to Expand Equity Cu to Over 250,000T in 2015

Marubeni Corporation expands equity copper to more than 250,000 tonnes per year in 2015. The equity increases to 125,000 tonnes in fiscal 2011 ending March 2012 when Chilean Minera Esperanza, in which Marubeni has 30% interest, started concentrate shipment and El Tesoro, in which Marubeni has 30% interest, starts ingot production with ore from newly acquired Mirador mine in the year. Marubeni expects Minera Esperanza will increase the production when the firm studies doubling or tripling expansion idea. Marubeni tries to acquire new competitive copper equity.

Minera Esperanza will reach annual 200,000 tonnes in copper of full capacity operation in July-September. With the newly launched mine, Marubeni’s equity copper increases by around 60,000 tonnes per year.

Marubeni’s managing executive officer Shoji Kuwayama said Minera Esperanza is in study to increase the concentrator capacity to 2-3 times of current level. The copper miner will start the US$ 2 billion class of expansion project in 2012 to start the expanded operation in as early as 2014.

El Tesoro, which runs solvent-extraction electro-winning process to make cathode copper from oxidized ore, starts the metal production with ore from Mirador in October-December. With minor adjustment of existing facilities, El Tesoro will increase the metal production capacity by around 10,000 tonnes from around 100,000 tonnes per year.

Marubeni also has 8.75% interest in Chilean Los Pelambres mine with 380,000 tonnes of annual copper production. With huge investment in El Tesoro and Esperanza, Marubeni increases the equity copper from around 64,000 tonnes in fiscal 2010.