Kintyre uranium mine in Western Australia in which MC jointly acquired interests with Canada's Cameco

MC began efforts to secure resources of uranium, the fuel used in nuclear power generation, in response to the increasing popularity of nuclear power as an energy source capable of both satisfying the rising global demand for energy and preventing global warming.
In the fierce, global competitive environment for uranium resources, MC and Canada's Cameco overcame all rivals with their 2008 acquisition of interests in the Kintyre Project (Kintyre) in Western Australia, one of the world's few large deposits of high-grade uranium.
Although we will face many hurdles in this Project throughout the development stage before the start of production, such as operational level examinations, we will leverage to the greatest extent possible our mine development know-how obtained through our experience in coal and iron ore mining and bring together the strengths of all interested parties to jump over each and every hurdle. MC will continue its various daily business activities geared towards the acquisition of new, high-grade resources from not only this Project but other projects as well.

MC has for many years considered copper as one of the most important commodities in the metals resources field. At present, MC is investing in three copper mines in South America including Escondida and Los Pelambres in Chile and Antamina in Peru, which also has zinc. These mines contribute greatly to MC's earnings and the mineral concentrate produced there is shipped to smelting plants in Japan and other countries making this project very significant in terms of securing stable raw material supplies. At Escondida, a large mineral deposit was recently discovered in the site. This and other aspects have made these three mines top notch on the world stage in terms of both scale and cost competitiveness and they will not only continue to provide stable revenues over the long term but may very well increase the value of the business through further expansions.
In addition to increasing the value of its business at existing mines, MC aims to perpetually expand its copper business both quantitatively and qualitatively securing new, high-quality copper resources through wider reaching efforts that include an entry into upstream fields such as exploration and initiating projects in other regions outside South America.

The Ferrous Raw Materials Division is engaged in the resource business mainly for coking coal but also for thermal coal, iron ore, uranium and other commodities through its wholly-owned subsidiary, Mitsubishi Development Pty Ltd (MDP). In order to expand its sustainable revenue base, the Division has implemented efforts such as increased operations at existing projects such as BMA as well as the development of thermal coal mines while effectuating, with a keen eye on the future, activities whose aim is the securement of next-generation resources. In FY 2008, the Division acquired interests in the New Saraji mine, which contains large, untapped coking coal deposits, through BMA. In Western Australia, it joined forces with Cameco in acquiring interests in Kintyre uranium mine, whose deposits have already been confirmed. In its iron ore business, the Division acquired preferential negotiating rights in tenders for Oakajee Port in Western Australia. These activities represent a significant step towards future expansions in its resource business. The Division will continue to strengthen its activities in hopes of increasing its revenue base.