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Mitsubishi Materials considering partial shutdown

ByVictoria

Japan’s Mitsubishi Materials is considering scaling back copper concentrate processing at its Onahama Smelter & Refinery as falling treatment and processing charges (TC/RCs) weigh on earnings, it said on Monday.

Mitsubishi Materials said the worsening TC/RCs from miners were expected to further erode smelting margins.

“To maintain and improve profitability, we need to raise the ratio of recycled raw materials and accelerate the shift to feedstock less vulnerable to TC/RC fluctuations,” the company said in a statement.

It is now considering the possibility of a partial shutdown of production facilities and a reduction in copper concentrate processing at Onahama, after planned maintenance from October to November this year, Mitsubishi Materials said.

Source – Reuters

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    Praying for these people to be rescued. -Victoria

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