Mitsui & Co. to Expand Nonferrous Metals Interests

Mitsui & Co.’s mineral & metal resources unit expands the nonferrous business along with the iron ore and steel raw materials business. The unit tries to expand the nickel interest more than around 18,000 tonnes per year, which was former target in 2010 from 9,000 tonnes at the end of March 2006, when the partner of CVRD of Brazil expands the nickel business through acquisition of Inco of Canada. The unit, which was established through merger of steel raw materials and nonferrous metals units in 2004, expands the resource investment. The unit increases the nonferrous metal interests to annual 100,000 tonnes for copper and 210,000 tonnes for aluminium in 2010 from current 58,000 tonnes and 127,000 tonnes respectively. The unit expands nickel interests when the unit decided to join second phase of Coral Bay Nickel Project in Philippine led by Sumitomo Metal Mining. The unit also joins Goro Nickel Project in New Caledonia to develop nickel resource.