Marubeni to Expand Captive Cu, Al Metals

Marubeni Corporation expands captive resources of nonferrous metals toward 2015 through annual 100 billion yen of investment for mineral and resource including steel making raw materials. The firm increases the equity copper to more than 3 times at 200,000 tonnes per year by launching Esperanza mine in Chile and developing other mines in the area. The firm doubles the equity aluminium ingot to 280,000 tonnes through expansion of the joint venture smelting projects in Canada and Australia. The firm also eyes wider nonferrous portfolio by adding nickel and rare metal resources.

Esperanza mine, in which Marubeni has 30% interest, already started part of the test running starting commercial operation as early as in September and shipment in and after October. Marubeni’s total copper interests increases by 60,000 tonnes to 125,000 tonnes per year when Esperanza mine with 200,000 tonnes of annual copper output capacity reaches full capacity operation in 2011. Marubeni expands the copper interests by developing mines including Tel?grafo in Sierra Gorda area with Antofagasta.

Marubeni tries to expand the equity aluminium metal mainly through expansion of Alouette in Canada, in which Marubeni has 6.7% interest. With confirmation of competitive power supply, Marubeni tries to realize the 3rd phase of expansion with the partners in 5 years to increase the annual output capacity to around 800,000 tonnes from current 550,000 tonnes.

Marubeni also eyes expansion of Australian smelting ventures including Portland project with 345,000 tonnes of annual output capacity and Boyne project with 251,000 tonnes of capacity, in which Marubeni has 22.5% and 8% interests respectively. Marubeni targets 400,000 tonnes of equity aluminium in longer term and eyes potential investment for alumina and upper stream resources.

Marubeni also tries to get interest in nickel, chrome, dysprosium and neodymium to meet growing demand for stainless and battery. The firm expands the metal trading in the world as well for better information and investment opportunity in wider trade base.