Replies to post #2471 on From Garbage To Gucci (G2G)

[TraderRich]

It'd be funnier if it wasn't true, but besides that, I think Italy is looking pretty good!

[EatYourShorts]

This is interesting for those looking at CDCH or MDMN


By Shigeru Fujimoto
Sept. 15 (Bloomberg) -- Sumitomo Metal Mining Co., Japan's biggest gold and nickel producer, plans to raise spending on mine exploration by at least 70 percent in the three years starting April 1 to meet soaring demand.
Sumitomo Metal will boost investment to more than 6 billion yen ($51 million) and may continue to take part in projects led by overseas miners, Managing Director Ichiro Abe said in an interview on Sept. 11. The percentage increase is compared with the previous three years.
President Koichi Fukushima is stepping up efforts to search out and develop mineral projects as worldwide demand for raw materials surges. The Tokyo-based company plans to explore in Chile, Peru, New Caledonia, North America, Indonesia and the Philippines in the coming years.
``We'll inject 2 billion yen or more, but less than 3
billion yen, a year into mine exploration in fiscal 2007-2009,
focusing on nickel and copper deposits,'' said Abe, who is in
charge of Sumitomo Metal's resources division. In the two years ended March 31 the company spent 1.5 billion yen.
Sumitomo Metal plans to spend 300 million yen to 400
million yen a year on nickel exploration at the Choiseul site in the Solomon Islands. It will start drilling after October.
The company also wants to increase annual domestic copper
smelting capacity to 450,000 metric tons, from 410,000 tons, and nickel smelting to 100,000 tons from 60,000 tons by 2013.