OREANDA-NEWS. FY2016 Capital Expenditure and Total Investment Plans Announced Sumitomo Metal Mining Co., Ltd. (SMM) has announced plans to undertake a total of 186.1 billion yen in investments, including capital expenditures, on a groupwide basis during the 2016 fiscal year (April 1, 2016 — March 31, 2017).

The total represents an increase 2.7 times from the level of FY2015. A breakdown by business segment is shown below.

The following large-scale outlays are scheduled on a consolidated basis in FY2016:

1. Expansion of lithium tantalate and lithium niobate substrates production: 6.0 billion yen (total outlay: 13.5 billion yen)
2. Expansion of lithium nickel oxide production: 5.5 billion yen (total outlay: 15 billion yen)
3. Expansion of nickel sulfate production: 3.0 billion yen (total outlay: 5.0 billion yen)
4. Scandium Recovery Business: 2.5 billion yen (total outlay: 4.0 billion yen)
5. Development of newly confirmed ore body at Hishikari Mine: 0.5 billion yen
(total outlay: 3.2 billion yen)

“Investments in overseas mineral resources & non-ferrous metals projects” of 127.2 billion yen during FY2016 include an acquisition of additional interest in Morenci Copper Mine of 110.0 billion yen (equivalent to US$1 billion).