Mitsui & Co. to Expand Nonferrous Metals Resources Interests

Mitsui & Co. tries to expand nonferrous metals resources under long term vision. The firm tries to increase the interest of copper, aluminium and nickel to more than double by 2015. The firm also seeks new resources of rare metals. The firm increases the interest to annual 170,000 tonnes for copper by 2015 from current 60,000 tonnes, to 340,000 tonnes for aluminium ingot from 130,000 tonnes and to 47,000 tonnes for nickel from 22,000 tonnes. The firm increases copper interests through new investment along with expansion of existing operation including Collahuasi of Chile, in which the firm has 7% interest. The firm increases aluminium interest by seeking new projects while the firm expands nickel interests through existing projects including second phase of Coral Bay nickel project in Philippines and Goro nickel project in New Caledonia. The firm launched Mitsui Bussan Metals in April by combining the subsidiaries for ferrous scrap and nonferrous metals trading. The firm tries to expand the metal resources value chain from raw materials to recycling for better covering the industry.