Sumitomo Metal Mining announced on Tuesday the subsidiary, Sumitomo Metal Mining Philippine Holdings Corporation, which was established in 2010 as regional headquarters for nickel business, started the operation. The firm controls Coral Bay Nickel Corporation, which makes intermediate material for electrolytic nickel, and Taganito HPAL Nickel Corporation, which starts operation in 2013. Sumitomo Metal Mining tries to expand the nickel operations in Philippines through the local headquarters.
The new company with 2.5 billion peso of capital started operation with 44 employees including 3 Japanese, 32 Philippine employees and 9 staffs, which also work for Coral Bay Nickel. The headquarters provides technical service both for Coral Bay Nickel and Taganito HPAL Nickel. Sumitomo Metal Mining controls 54% of Coral Bay Nickel to make annual 24,000 tonnes in nickel of nickel-cobalt mixed sulfide from lower grade nickel laterite through the high pressure acid leach (HPAL) process. The plant sends the intermediate material to Niihama plant, which makes electrolytic nickel. Sumitomo Metal Mining controls 62.5% of Taganito HPAL Nickel to start operation in 2013 making 30,000 tonnes in nickel of the intermediate material.Japan Steel Scrap Composite Prices (Sangyo Press)
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