Japan major 6 smelters plan 38pct more investment in F2011

Japan Metal Bulletin reported that Japanese major 6 nonferrous metals smelters including Sumitomo Metal Mining, Mitsubishi Materials, Mitsui Mining & Smelting, Dowa Holdings, Toho Zinc and Furukawa plan to increase capital expenditure by 38% to LPY 208.3 billion for fiscal 2011 started April from fiscal 2010.

Sumitomo Metal Mining expends JPY 43.1 billion for new nickel smelter in Philippines while Toho Zinc plans to invest JPY 8 billion for development of Australian Rasp zinc and lead mine. JX Nippon Mining & Metals failed to disclose the investment value but the firm plans to develop Caserones copper mine in Chile