Mitsubishi Materials report lower copper output

By Romel S. Gurky

Japan-based firm Mitsubishi Materials Corporation in its financial statement ended March 31, 2013 release this week says its electrolytic copper production reached 508,000 tons, down 49 thousand tons from last year's figure.

"PT Smelting in Indonesia, and production cutbacks resulting from the lower quality level of copper contained in the raw material ore. In the entire Metals business, electrolytic copper production amounted to 508 thousand tons, down 49 thousand tons from the previous fiscal year," 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 Nippon Mining and Metals Co Ltd with 5% shares ownership.

Editing by Adianto P. Simamora