Japan's Pan Pacific plans 2 pct y/y increase in H2 copper output (updated)

Nittetsu Mining Co

06/10/2017 07:29

* Last year's H2 output crimped by maintenance at Hibi 
    * Conducting 70-80 days of maintenance at Saganoseki from 
Sept. 21 
    * Solid local demand for auto parts, semiconductors 
 
 (Adds detail) 
    TOKYO, Oct 6 (Reuters) - Japan's Pan Pacific Copper on 
Friday said it plans to raise its October-March output of 
refined copper by 2.2 percent from the same period last year, 
when maintenance crimped production. 
    The nation's biggest copper smelter forecast output of 
274,400 tonnes of refined metal in the six months starting Oct. 
1, up from 268,600 tonnes a year earlier. 
    The smelter expects combined output at its Saganoseki plant 
in western Japan and Hitachi Refinery in the east of the country 
to slide 6.3 percent from a year earlier, but production at its 
Hibi Kyodo Smelting unit is seen jumping 21.5 percent. 
    Hibi, which is jointly owned by Pan Pacific, Nittetsu Mining 
 1515.T  and Furukawa Co Ltd  5715.T , went through maintenance 
for about a month late last year. 
    "Although we are conducting large-scale maintenance at  
Saganoseki from Sept. 21 for 70 to 80 days, the impact will be 
limited as we have stocked up anode ahead of the maintenance to 
help cushion output declines," a spokesman said. 
    The maintenance at Saganoseki will take longer than usual as 
it is renewing a flash smelting furnace for the first time in 
about 45 years, he added.  
    "Local appetite for copper products has been good thanks to 
solid demand for auto parts and semiconductors," the spokesman 
said. 
    Pan Pacific is 67.8-percent owned by JXTG Holdings Inc 
 5020.T  and 32.2-percent owned by Mitsui Mining and Smelting Co 
Ltd  5706.T . 
    Following are details of the company's output plan, with 
comparisons against estimated production in the first half of 
the financial 2017/18 year and actual production in the second 
half of 2016/17. 
    (Copper in tonnes, gold and silver in kilograms):      
          H2 FY17/18    H1 FY17/18  H2 FY16/17 
  Copper     274,400       261,200     268,600 
    Gold      18,700        18,200      21,600 
  Silver     186,500       149,100     194,200 
  
 
 (Reporting by Yuka Obayashi; Editing by Kenneth Maxwell and 
Joseph Radford) 
 ((Yuka.Obayashi@thomsonreuters.com; +813-6441-1798; Reuters 
Messaging: yuka.obayashi.thomsonreuters.com@reuters.net)) 
 
Keywords: PAN PACIFIC COPPER/