Mitsubishi copper output down
Tuesday, February 19 2013 - 08:46 AM WIB
Japan-based firm Mitsubshi Materials Corporation recently stated that the company's total production of electrolytic copper for the nine months ended December 2012 was at 394 thousand tons, down 28 thousand tons from the previous corresponding period.
"In addition to the production decrease in PT Smelting in Indonesia due to furnace repairs and decrease in copper content in copper concentrates, factors such as a drop in copper prices led to a decrease in net sales and operating profit," the company said.
PT Smelting operates a copper smelter and refinery in Gresik, East Java, in which Mitsubishi Materials Corporation is the majority stock owner with 60.5% interest followed by PT Freeport Indonesia with 25%, Mitsubishi Corporation (9.5 percent) and JX Holdings Inc with 5% shares ownership.
Editing by Er Audy Zandri