Japan Nonferrous Metal Industry Warns Uncertain Demand for 2H F2010

Japan Mining Industry Association’s chairman Sadao Senda said at press conference he expects electronic materials demand would keep high level for first half of fiscal 2010 started April but the demand is uncertain for second half due to slowing economy in China.

Mr. Senda said Chinese economy slows down slightly due to the government effort to cool overheated real estate investment. However, he expects Chinese copper demand is still strong when infrastructure investment including power distribution network represents large part of Chinese copper demand.

Mr. Senda said Australian mineral resource tax has no impacts on nonferrous metal industry when Australian government limits the new tax on iron ore and coal. However, he warns other mineral rich countries could increase such move for higher tax on mineral resources.

The association will request governmental more support for mineral development, international equal footing for tariff on nonferrous metals and encouragement for geothermal energy use at meeting with governmental mining policy council next week.