Sumitomo Metal Industries Mining News

Rio Tinto sells its Blair Athol coal mine for less than a bus ticket

The Blair Athol mine, closed in 2012, would be the second Australian coal asset in a year to be sold for just A$1.

Freeport-McMoRan sells 13 pct stake in Morenci Mine to Sumitomo for $1 billion

Morenci is an open-pit, copper mine located in Arizona. In 2015, FCX’s 85 percent share of Morenci revenues totaled $2.2 billion and production and delivery costs totaled $1.5 billion.

Aussie coal mine sold by Vale for $1 to reopen next year

Stanmore Coal said it would employ 150 workers when the mine reopens in 2016; half the workforce in place when it closed last year.

Japan's Sumitomo Metal seeks stakes in copper, gold mines

The company wants to take advantage of its sound finances and a slump in commodity prices to bolster future growth.

Move over Codelco: Freeport plans to be the world’s No.1 copper miner

But China’s slowdown, rising costs and falling prices may get in the way.

Polish miner KGHM begins production at massive copper mine in Chile

In the official opening the firm said it expected to start shipping from Sierra Gorda in November

Merged Nippon-Sumitomo may retain Tata Steel, drop Bushan as ally

Japanese steel firms Nippon Steel and Sumitomo Metals are likely to retain Tata Steel as partner for India, post their proposed merger. Nippon Steel has a tie-up with Tatas and Sumitomo Metals has a partnership with Bhushan Steel. Industry sources said that the new entity, formed out of Nippon-Sumitomo's existing businesses, will keep only one firm as its India ally and the balance is tilted towards Nippon's long-standing partner Tata Steel rather than Sumitomo Metals' Bhushan Steel, which has a marketing and technology tie-up with the Japanese firm.

Sumitomo Metal strikes gold, silver in Alaska

Sumitomo Metal Mining Co. and Sumitomo Corp. said Thursday that test drilling has confirmed deposits of gold, silver and antimony at their jointly held Monte Cristo mine in Alaska.

Quadra FNX and Sumitomo form US$724 million joint venture to develop Sierra Gorda copper-molybdenum project in Chile

Quadra FNX Mining announced on Sunday a US$724 million joint venture with Sumitomo Corporation to develop the Sierra Gorda copper-molybdenum project in Chile. The total cost of the mine is estimated at 2.8 billion and production is scheduled to start in 2014. Sumitomo has a 45% stake in the joint venture; Quadra FNX has 55%. Sierra Gorda is a copper exploration project located in the Atacama Desert, Region II of Chile. According to Quadra FNX's recently completed feasibility study, the production from current sulphide reserves will average 483 M lbs of copper, 25 million lbs of molybdenum, and 64 kozs of gold per annum over a 20-year mine life.

Strike at San Cristobal silver mine enters fourth day

A four-day-old strike has paralyzed Bolivia's San Cristobal mine, which produces silver, zinc and lead and accounts for about half the country's mining exports, the government said on Monday. San Cristobal is the world's third-largest producer of silver and the sixth-largest producer of zinc, according to Japan's Sumitomo Corp (8053.T: Quote), which fully owns the mine.

Nippon Steel/Sumitomo draft merger plan submitted

Nippon Steel & Sumitomo Metal Industries Ltd submit draft merger proposal Tokyo (Reuters) - Nippon Steel Corp, the world's fourth-biggest steelmaker, and Sumitomo Metal Industries Ltd submitted a draft proposal for their planned merger to Japan's

No plans for force majeure – Sumitomo

Sumitomo Metal Industries Ltd Japan's third-biggest steelmaker, said it had no plan to declare force majeure on input deliveries. The company has suspended operations of the two giant blast furnaces at its mainstay Kashima plant in Ibaraki prefecture after the quake and tsunami.