Nickel

Reuters Africa Sumitomo Metal Mining Co (TYO:5713) plans to spend $168 million on its planned move to beef up capacity at a domestic nickel refinery to handle raw metal produced at a project in the Philippines.

Reuters Africa Sumitomo Metal Mining Co (TYO:5713) plans to spend $168 million on its planned move to beef up capacity at a domestic nickel refinery to handle raw metal produced at a project in the Philippines.

The market news is quoted as saying:

Japan’s top nickel producer had said in its mid-term strategy that it planned to increase refining capacity at its Niihama nickel refinery to 65,000 tonnes per year in fiscal 2013/14 from 41,000 tonnes currently.

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