Pan Pacific Copper (PPC), Japan’s leading copper supplier, announced its intention to consign the production of 312,300 metric tons of refined copper to its parent company’s smelters in the first half of the 2024/25 financial year, representing a 1.3% increase compared to the previous year, as disclosed on Monday. The first half of the financial year in Japan spans from April to September.
PPC is primarily owned by JX Metals Corp, a subsidiary of Eneos Holdings Inc (47.8%), Mitsui Mining and Smelting Co Ltd (32.2%), and Japanese trading house Marubeni Corp (20%). Marubeni recently acquired the stake in PPC from JX Metals on March 29. PPC delegates smelting and refining operations to its parent company’s facilities, focusing on procuring raw materials and distributing the refined metals.
The outlined consigned output plan provides insights into PPC’s production strategy for the upcoming financial period, detailing comparisons against estimated production in the second half of the 2023/24 financial year and actual production in the first half of the same year.