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Sumitomo Metal Mining to Cut Copper Output 3% in Fiscal 2013

April 1 (Bloomberg) -- Sumitomo Metal Mining Co., Japan’s second-largest copper smelter and biggest nickel producer, will cut copper production by 3 percent in fiscal 2013.

Refined-copper output will drop to 423,000 metric tons in the year that began today from the previous year’s estimated 436,000 tons, the Tokyo-based company said in a statement today. Electrolytic nickel production may increase 30 percent to 53,200 tons, it said.

The company’s copper output will decline this fiscal year due to scheduled maintenance for 20 days at the Toyo smelter between October and November, while its nickel production will rise with the shipment of intermediates from the Taganito project starting in the second half, it said.

The following table summarizes the company’s metals output. Figures are in metric tons, except for gold and silver, which are in kilograms:


=============================================================
Metal                      2013                   2012
                       1H         2H          1H         2H
=============================================================
Copper            204,000    219,000     218,000    218,000
Electrolytic       22,400     30,800      20,500     20,500
  nickel
Ferronickel        10,000     12,400      11,000     11,200
Zinc               25,600     24,400      21,000     24,000
Gold (kg)          11,100     11,800      14,000     13,300
Silver (kg)        91,000     97,000     114,000    100,000
=============================================================
* Note: At Hyuga ferronickel smelter, one of the two kiln lines
will close for maintenance for 35 days between May and June and
maintenance on the other line is scheduled for 22 days in
September.

To contact the reporters on this story: Jae Hur in Tokyo at jhur1@bloomberg.net; Ichiro Suzuki in Tokyo at isuzuki@bloomberg.net

To contact the editor responsible for this story: Brett Miller at bmiller30@bloomberg.net

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