Sumitomo Metal Mining Co., Ltd.

Sumitomo Metal Mining Co., Ltd., together with its subsidiaries, engages in the resource development, manufacture, and sale of non-ferrous metal products in Japan and internationally. It operates through Resource, Smelting, and Material segments. The company is involved in the development and operation of the Hishikari Mine and other mines; smelting and refining business, which provides metal products, such as copper, nickel and cobalt, silver, platinum, rhodium, ruthenium, palladium, slag sand, copper sulfate, selenium, gypsum, sulfuric acid, and green sand, as well as gold and precious metals, rolled copper foil, copper and brass strips, tin plated copper and brass strips, and iron contained pellets; and develops and produces battery materials. It also produces battery cathode material for vehicles; lithium tantalate and lithium niobate for communication devices; cesium tungsten oxide, other near infrared ray absorbing materials, and thick film pastes; copper-clad polyimide films and printed wiring boards; silicon-carbide semiconductor; and automobile exhaust gas purification catalysts, chemical catalysts, and hydrotreating catalysts. In addition, the company engages in the water and precious metals recycling; water treatment and environmental improvement operations; and environmental preservation; sterilization, disinfection, and polymer material modification services for medical devices, non-woven fabrics and hygienic materials, laboratory and clinical testing equipment, containers, food packaging materials, pharmaceutical, cosmetic, and herbal medicine materials. Further, it is involved in the coastal shipping, port transport, in-plant logistics, and land transportation. The company was formerly known as Seika Kogyo (Mining) Co., Ltd. and changed its name to Sumitomo Metal Mining Co., Ltd. in June 1952. Sumitomo Metal Mining Co., Ltd. was founded in 1590 and is headquartered in Tokyo, Japan.

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Sumitomo Metal Mining raises full-year net profit forecast by 51% on growing demand from generative AI

Sumitomo Metal Mining announced on the 10th that it has revised upward its consolidated net profit forecast for the fiscal year ending March 2027, from the previous 139 billion yen to 216 billion yen, an increase of 51.9 percent. The company expects demand for materials used in electronic components, particularly for data centers, to continue expanding amid the wider adoption of generative AI. As for copper supply and demand, it sees an overall surplus persisting due to increased supply from the restoration of a copper mine in Indonesia and slowing demand caused by the situation in the Middle East. The company also reported first-quarter consolidated net profit of 87.9 billion yen, 3.2 times the figure from a year earlier.

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Kenorland Completes Top-Up Right from Sumitomo and Centerra

Kenorland Minerals Ltd. has completed the exercise of top-up rights by Sumitomo Metal Mining Canada Ltd. and Centerra Gold Inc., allowing them to retain their respective 10.1% and 9.9% interests in the company. An aggregate of 314,392 shares were issued at a price of $2.136 per share for total gross proceeds of $671,541.31, with 158,768 shares going to Sumitomo and 155,624 shares to Centerra. The issued common shares are subject to a statutory hold period expiring on October 20, 2026. As Sumitomo is a related party, the transaction relied on exemptions from formal valuation and minority shareholder approval under Multilateral Instrument 61-101.

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