b'Minto has a commitment to the environment including a pilot for a constructed wetland to minimize future environmental impacts at We always maintained strong relationships with keywith a total volume of 200,000closure. Minto as a business, has successfully ramped up production personnel at Highland Valley, many of whom went onDMT. This is a very significantand produces a very uniquely high to different mines that brought new business opportuni- SC global business within ourquality product that is highly ties to Sumitomo, Lu further explained. One of theseMineral Resources Group. desired in the market. businesses was the Robinson mine owned by KGHMAs a matter of fact, our initialyes another Sumitomo (in this case, former) partner,offtake period was going to be expired at the Sierra Gorda mine. A key former member ofin a year, further explained Kento Kawabe, Manager, the Sierra Gorda business was the first to reach out toMineral Resources Unit. Minto had been providing a us to introduce the Minto business. He was seeking areliable and important feed for our most important cop-reliable, trustworthy business partner with both finan- per processing customer in Japan. Minto copper concen-cial and commercial capacity as he sought to re-starttrate is high quality and highly desired in the market and the Minto mine. Our relationship quickly facilitatedso, we wanted to continue this offtake beyond the initial the discussions and while, of course, we had to presentofftake period.For this extension, we agreed to support competitive terms, Sumitomos historic credibility inMinto with an increased prepayment (loan) facility to mineral resources helped to reassure Minto to enter thisconclude the deal.agreement. To explain, SCL signed the original offtake agreementWe are delighted to extend the offtake agreement with in 2019 to procure copper concentrates from the MintoMinto Metals, stated Takeshi Ishimaru, General Managermine. With the original debt facility, the volume wasof Non-Ferrous Raw Materials Dept., Sumitomo 90,000 dry metric tonnes (dmt) for three years untilCorporation. Minto Metals has proven to be a strong, 2021. This is a sales and purchase agreement for copperreliable operator and their sustainable practices uphold concentrate procurement to supply to a copper smelterSumiotmos long-term values.We look forward to a in Japan. Near the end of year 2021, renegotiating anlong, continuing relationship with Minto.extension of this current agreement seemed the rightOur vision is to be the partner of choice in the mining way forward. and metals industry, added Hirano. We seek to create After a challenging and lengthy negotiation withvalue to our stakeholdersincluding Minto as ourother competitors, we successfully secured the exten- partner and Sumitomo Metal Mining as our customer - sion of this agreement for additional 200,000 DMT,with sustainable, long term business.explained Jacqueline Kotani, Account Manager, Min- We never forget our history and we cherish the eral Resources Unit. With the current mine produc- relationships that we have established over the years, tion rate, it will produce for another four to five yearsreiterated Lu. This has been the way we approach all of from year 2022. The estimated contractual value ofour business.the Minto concentrates will be US $700 million Sumitomo Corporation of Americas 13'