Realizing a Stable Supply of Non-Ferrous Metal Resources

Expand Production Volumes of Nickel

The SMM Group is aiming to build a production system of 100 kt (amounts converted to a nickel content basis) by 2030, due to the expanding global EV market and increased demand for batteries. To achieve this target, we will promote multi-faceted measures, including improving our R&D and production processes, participating in new projects, and making capital investments.

Main Initiatives

• Participation in New Projects
  In April 2024, the SMM Group, together with Mitsubishi Corporation, joined the Kalgoorlie Nickel Project (KNP) - Goongarrie Hub, which is 100% owned by Australian company Ardea Resources Limited. We believe that entering into this new project will significantly contribute to securing a stable supply of raw nickel and expanding our production capacity.
• Expansion of Sales Channels for Nickel Products and Facility Expansion and Reinforcement
  We are working to increase sales of our diverse product lineup, including electrolytic nickel, nickel sulfate, ferronickel, and nickel chloride. Also, to respond to the increase in demand, we are proceeding with production facility expansion and reinforcement. In FY2024, we increased sales of high-value-added products and reinforced our facilities.
• Increased Sales and Production of Nickel-Based Cathode Material
  We are also focusing on expanding sales and increasing production of nickel-based cathode materials. In FY2024, we achieved monthly sales of 5,403 tons (yearly average), expanded our product line-up, and optimized our production capacity. We will continue to develop new products, increase our batch production capacity, and diversify raw material procurement. We plan to flexibly respond to diverse market needs by achieving both a stable supply and high quality.
• Development of New Production Technologies
  We will incrementally start construction and operations at Goongarrie Hub and a converter at Hyuga Smelting Co., Ltd. In FY2024, we conducted planning investigations, and testing. We will proceed with construction and equipment installation in stages, aiming to diversify the supply of raw materials and increase our production efficiency.

Through these initiatives, we aim for the sustainable growth of our Group, and build a system for the stable supply of nickel.

Promotion of Copper Mine Projects

We are working to reinforce the production structures of joint venture mines to achieve and maintain an annual copper equity production level of 300 kt from copper mines in which our group holds interests. In FY2024, we completed construction at the Quebrada Blanca Copper Mine in Chile, in which we have a joint interest in with Sumitomo Corporation and Canada-based Teck Resources Limited, a major resource company. In combination with the existing equity copper production from the Morenci Copper Mine in the United States, the Cerro Verde Copper Mine in Peru, and other mines, total copper production in FY2024 was 232 kt.
We also reached an agreement in May 2025 on acquiring a 30% interest in the Winu Copper-Gold Project in Australia, the aim of which is to acquire new superior resources and develop new mines for which we hold operatorship.