Total Copper Interests: Breakdown by MinePercentage of total FY2024 copper production by mineQuebrada Blanca 21.6%Candelaria, Ojos del Salado10.8%Cerro Verde 31.2%Northparkes 2.1%Morenci 34.3%1 engineerInterest 13.3%Northparkes Copper MineMorenci Copper Mine1 clerical employee 1 engineerInterest 25.0%Cerro Verde Copper MineCandelaria Copper MineOjos del Salado Copper MineCote Gold Mine6 engineersQuebrada Blanca Copper Mine5 engineersInterest 25.0%Interest 16.0%23.2 kt62Interest 30.0%Interest 16.8%Interest 16.0%* Staff are also dispatched to joint-venture exploration projects and to research institutions.Hishikari Mine’s Emphasis on SustainabilitySince it started operations in 1985, the Hishikari Mine (Kagoshima Prefecture) has produced approximately 273 tons of gold as of the end of March 2025. Worldwide, the amount of gold contained in gold ore (grade) is said to be 3–5 grams per ton on average. However, the Hishikari Mine is characterized by its high grade with 20 grams of gold per ton, or about five times the global average. Hishikari Mine’s annual gold production target for FY2025 Overseas Mines and Staff Dispatched to Mines (As of August 1, 2025)is 3.5 tons. While a decrease in production and sales volumes compared to the 21 3-Year Plan is projected under the 3-Year Plan 27, this reflects our sustainability-oriented operations based on mining at the average recoverable gold grade, and this approach enables effective utilization without wasteful leftovers for valuable resources.Meanwhile, with approximately 40 years having passed since Hishikari Mine’s opening in 1985, critical facilities are deteriorating. We are intensively promoting the replacement of facilities while actively implementing cost reduction measures including introducing DX-related facilities, such as autonomous heavy equipment. Our goals at the Hishikari Mine are both to maintain long-term operations and become a world-class mine, and to continue serving as a training ground for the development of human resources, namely at our “Mining School”, where geologists, mining engineers and metallurgists hone the skills necessary for mine operations.High-quality Mines in which SMM Holds InterestsTo achieve one of our long-term vision targets of 300 thousand tons of annual copper production from our copper interests, we will focus on maintaining stable production at the copper mines in which we hold interest by investigating and bringing to light challenges and enhancing our countermeasures against such challenges.Low production volume and other matters at the Morenci Copper Mine (United States) and other mine are issues. We will address these challenges by establishing a shared awareness of issues as well as sharing their solutions with our business partners, strengthening monitoring, and consistently dispatching engineers and continuously proposing improvements.We will continue to strive to reliably achieve planned production targets while maintaining stable operations.Each of these copper mines is notable for the abundant potential they possess for further exploration, and we are committed to pursuing efforts to secure additional reserves to achieve extended mine life.Mineral Resources BusinessAssets Supporting Sustainable Growth
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