Nittetsu Mining Co., Ltd.
(Disclosure Update) Partial Revision of the Alqueros Mine Development Project in the Republic of Chile
The projected development cost for the Alqueros Mine Development Project has increased to USD 486 million. Operating cost forecasts have changed to C1: 131¢/lb and C3: 318¢/lb, and production start has been delayed to July-September 2026.
Key Figures
- Projected Development Cost: USD 486 million (previously USD 396 million)
- Operating Cost Forecast C1: 131¢/lb (previously 142¢/lb)
- Projected Production Start: July-September 2026 (previously April 2026)
AI要約
Project Overview and Changes
Nippon Steel Mining Co., Ltd. is advancing the Alqueros Mine Development Project in Coquimbo Region, Republic of Chile. Due to engineering revisions, changes in construction methods, price increases, and permitting delays, the investment amount has increased compared to the initial plan, with projected development costs now at USD 486 million (previously USD 396 million). Additionally, the production start has been postponed from April 2026 to July-September 2026. While the operating cost forecast C1 has decreased to 131¢/lb, the C3 cost has increased to 318¢/lb. The assumed prices for copper and silver have also been revised upwards.
Impact on Earnings and Future Policy
The impact on consolidated earnings for the fiscal year ending March 2026 is expected to be minor. Any impact from the fiscal year ending March 2027 onwards will be promptly disclosed if disclosure is required. In its core mining business, the company aims for sustainable growth and positions ensuring financial soundness and improving capital efficiency in preparation for the long business cycle and large-scale development investments as management priorities. Accordingly, decisions regarding share buybacks and cancellations have also been announced.
