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Roy Hill iron ore project in Australia

Australia

  • Roy Hill iron ore project
  • Ceremony commemorating first shipment of the Roy Hill iron ore

The Metals & Mineral Resources Division holds a 15% stake in Roy Hill Holdings Pty Ltd., a company that is advancing the Roy Hill Iron Ore Project in the Pilbara region of Western Australia, which features the largest production volume of any single mining district in the region as well as high cost competitiveness. Roy Hill Holdings possesses the entire range of integrated infrastructure, including mine, railway, and port infrastructure, to be used in this massive project, which is anticipated to have an annual production and shipping capacity of 55 million tons. In December 2015, the first shipment from this project was loaded onto the vessel MV Anangel Explorer at a dedicated berth at Port Hedland. The high-grade iron ore produced at this project is in high demand from steelmakers in Japan and other parts of Asia, and more than 90% of the anticipated production volume from this project has already been sold through long-term contracts. To ramp up to full production, we are advancing development together with project partners Hancock Prospecting Pty Ltd. of Australia, POSCO of South Korea, and China Steel Corporation of Taiwan. We will also pursue stable and efficient operation as we strive to contribute to the development of steel industries in Japan and other Asian countries through a reliable supply of high-grade iron ore.

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Antucoya copper mine project in Chile

Chile

  • Antucoya copper mine project

Through Chile’s Minera Antucoya in which Marubeni co-invests with Antofagasta plc ("Antofagasta"), one of the world's leading copper producers, Marubeni is developing Antucoya copper mine in Chile (investment ratio: Marubeni 30%, Antofagasta 70%). Minera Antucoya signed for a total of US$650 million in project financing to promote the development in November 2013, and began production of copper cathodes in September 2015.
The total amount of copper ore reserve in this mine is estimated to exceed 600 million tons, and the project is expected to produce approximately 80,000 tons of copper cathodes per year over a period of approximately 20 years. Marubeni will be entitled to approximately 24,000 tons per year of copper cathode, which corresponds to Marubeni’s 30% interest in the project.
Marubeni has established a close and long-term partnership with Antofagasta since Marubeni participated in the Los Pelambres project. The total amount of copper production from Marubeni’s interests will be 150,000 tons a year (copper cathode equivalent), placing Marubeni as one of the top copper producers among Japanese companies.

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Establishment of Minera Centinela in Chile

Chile

  • Centinela copper mine

In November 2014, Marubeni and Antofagasta have integrated their co-investing companies of Minera Esperanza and Minera El Tesoro, both 30% owned by Marubeni and 70% owned by Antofagasta, to establish a new company, Minera Centinela (“Centinela”), with the same investment ratio.
The integration allowed Centinela to generate significant strategic benefits, including improved cost competiveness through joint usage of heavy machinery and processing plants belonging to both the Esperanza and El Tesoro mines, and streamlining of the management structures through measures such as consolidation of the two administrative systems.
Centinela will have an estimated annual copper production of approximately 270 thousand tons (copper cathode equivalent), and will be expected to reach approximately 400 thousand tons before 2020 with its planned expansion project of the Esperanza Sur mine, transforming it into one of the largest copper mines in Chile.

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Acquisition of Encuentro copper mine in Chile

Chile

  • Encuentro copper mine

In September 2015, Marubeni and Antofagasta have agreed to jointly acquire and develop a new copper deposit located in the Centinela Mining District in Chile’s II Region, through their joint operation, Minera Centinela ("Centinela", investment ratio: Marubeni 30%, Antofagasta 70%).
The Encuentro mining properties are located 15 km south of Centinela and contain oxide ores above sulfide ores within a single deposit. The oxide ores will be processed at Centinela’s existing plant, expected to produce 50,000 tons of copper metal per year. Development of the lower sulfide ores is currently at the feasibility study stage of evaluation. It is a large-scale deposit with mineral resources of 1.2 billion tons (copper grade: 0.43%), and is expected to be the main mine after 2020 in the Centinela Mining District total development plan, being promoted together with Antofagasta. The Centinela Mining District as a whole contains approximately 7 billion tons of mineral resources.

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