Sumitomo Metal Mining, Sumitomo Corporation Announce Expansion of Peru Copper Concentrate Production at Cerro Verde Mine.Tokyo, Japan, Jan 10, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Sumitomo Metal Mining Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :5713) and Sumitomo Corporation Sumitomo Corporation (住友商事, Sumitomo Shōji) TYO: 8053 is a highly built worldwide trading company (Sogo shosha), and is a diversified corporation based in Tokyo, Japan. It is a member company of the Sumitomo Group. (TSE:8053) (SMM (System Management Mode) An energy conservation mode built into Intel SL Enhanced 486 and Pentium CPUs. During inactive periods, SMM initiates a sleep mode that turns off peripherals or the entire system. and SC collectively referred to herein as "Sumitomo") jointly announced today the commencement of the production of copper concentrate from the Primary Sulfide sulfide, chemical compound containing sulfur and one other element or sulfur and a radical. Sulfides may be salts or esters of hydrogen sulfide, H2S, or may be formed directly, e.g., by heating a metal with sulfur. Project at Cerro Verde mine in Arequipa, Peru. The approximately 9,500 dry metric tonnes of first shipment of copper concentrate has been shipped to SMM. The expansion of the mine's Primary Sulfide Project has been ongoing under the project finance provided by the international banks syndicate headed by Japan Bank for International Cooperation The Japan Bank for International Cooperation (国際協力銀行 , and the new concentrator associated with the expansion entered into the operation in part in November 2006 and in full in December 2006 with the shortest construction time record of such large scale mines. The concentrator continues to work through normal adjustments and full production is expected to be achieved during the first half 2007. Current copper production at Cerro Verde is approximately 90,000 tonnes per year of copper cathode produced through the SX/EW process. Upon completion of the expansion, copper concentrate containing approximately 180,000 tonnes of copper per year will also be produced and it will allow the mine to triple annual production to approximately 270,000 tonnes of copper per year. The expansion is regarded as the first rank large scale expansion among world copper mines seen to date in this century. Sumitomo acquired a 21 percent equity interest in Sociedad Minera Cerro Verde S.A.A. in June 2005 and will purchase 50% of Cerro Verde's copper concentrate production during the first ten years of production, with the right to purchase concentrate thereafter in a percentage amount equal to its equity interest. Sumitomo will make best endeavors toward the smooth ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale to full production of the sulfide ore expansion at Cerro Verde from now on as well. About Sumitomo Corporation Founded in 1919, Sumitomo Corporation (TSE: 8053; US: SSUMY) is one of the largest, major general trading companies in Japan. Sumitomo Corporation runs 26 offices in Japan and 124 overseas branches in 69 countries. Sumitomo Corporation not only conducts commodity transactions in all industries utilizing worldwide networks, but also provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Sumitomo Corporation thus shows great diversification as an Integrated Business Enterprise. Trading industries are Metal, Transportation & Construction Systems, Machinery & Electric, Media, Electronics, & Network, Chemical, Mineral Resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature & Energy, Consumer Goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and & Service, Material & Real Estate, and Financial & Logistics. Total sales in FY2005 exceeded JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 9898.6 Bn. About Sumitomo Metal Mining Co., Ltd. Sumitomo Metal Mining Co., Ltd, was established in 1950 and is a leading producer of copper, gold, nickel and other non-ferrous metals in Japan. Source: Sumitomo Corporation Contact: Sumitomo Corporation Corporate Communications Dept. Tel: +81-3-5166-3096 Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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