Sumitomo Metal Mining Triples Three-Year Capex Plan to Develop Battery Materials

SUGAR LAND--February 17, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Sumitomo Metal Mining Company Limited (SMM) expects the global battery market to grow significantly in the coming decades, and is rapidly shifting the bulk of its long-term investments toward the development of nickel-based cathode materials. The company, which is part of Sumitomo Group (Tokyo, Japan), is tripling its capital expenditures (capex) over the next three years to expand its production capacity of nickel and cathode materials used in batteries. Industrial Info is tracking US$2.7 billion worth of active projects from SMM, the majority of which is attributed to nickel-related developments.

Within this article: Details on some of the highest-valued projects involving Sumitomo Metal Mining Company Limited, including a large nickel mine in Indonesia, a nickel-based cathode materials plant in Japan, and the expansion of a copper mine in Chile.

Other companies featured: Vale S.A. (NYSE:VALE) and Teck Resources Limited (NYSE:TECK)