Mitsui to Enhance Metal Recycling Business in Japan and Overseas

Mitsui & Co., Japanese major trading house, held a presentation meeting about Mineral & Metal Resources business unit’s metal recycling and environmental solution strategy on Monday. The company will start a new business to collect used cellular phones and small-size home appliances in Japan’s some regions and widen the business area to all Japan in cooperation with the government. The company also eyes starting collection of used home appliances at overseas, for instance in China, in 2010.

Mitsui holds 19.8% shares in Sims Group, the world largest metal recycling company headed in Australia, while operates recycling business subsidiaries in Japan including Mitsui Bussan Metals and Kyoei Recycling.

In addition to these existent businesses, Mitsui enters a demonstration business to collect used cell phones in Japan as a managing company. Collected phones will be recycled at domestic nonferrous metal smelters to extract precious metals. Mitsui aims 20% collecting share in future in domestic market, as high as Mitsui Bussan Metals’ ferrous scrap share in Japan.

As to small-size home appliances, Mitsui plans to enter model businesses to collect and recycle digital appliances, such as digital steel cameras and DVD players, in Tokyo through a consortium.

Mitsui will organize metal recycling networks while advance feasibility studies on these model businesses. In future, the company aims to widen the business area to overseas.