Sumitomo Mining News

Teck chooses Sumitomo to develop Chilean copper project in $1.2B deal

Sumitomo Metal Mining and Sumitomo Corp. will pay $800 million earn-in contribution and $400 million matching contribution for a third of Teck's 90% interest in Quebrada Blanca mine.

Northern Star raises funds to buy gold mine in Alaska

The Australian miner was able to raise almost $1.3 million to help fund the acquisition of its first overseas asset.

Newmont sells stake in Yanacocha gold mine to Japan’s Sumitomo for $48 million

Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.

Ivorian miner seeks $375m bauxite venture with Sumitomo

Neighboring Guinea is now China’s largest supplier of bauxite after overtaking Australia in 2017.

IAMGOLD closer to deciding future of Ontario gold project

Company expects Côte Gold project to create as many as 1,200 jobs during the construction phase, estimated to last two years.

Japan’s Sumitomo Metal becomes IAMGOLD partner in Canadian project

With the completion of the Japanese firm acquisition of 30% of Côté Gold Project, IAMGOLD's liquidity now exceeds $1 billion.

IAMGOLD sells stake in Ontario gold project to Sumitomo for $195 million

The deal comes as Sumitomo, Japan’s top gold miner, looks to boost its output through acquisitions and exploration.

Japan's sole gold mine owner readies for overseas acquisitions

Sumitomo Metal Mining Co, the copper and nickel producer that also owns Japan's only gold mine, is scouring the world for bullion deals as assets become more affordable.

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.