Investor Presentaiton

ING Smelters in Japan Smelter operated by a company Kosaka (Dowa) Cu, Pb, Sn lijima (Dowa) Zn Mine Smelter operated by a joint venture (main investor) Naoshima (Mitsubishi) Cu IRV:CNX Tamano (PPC) Cu Takehara (Mitsui) Pb, Sn Chigirishima (Toho zinc) Pb Ikuno (Mitsubishi) Kamioka (Mitsui) Sn Pb, Zn Oevama (Nippon yakin) Ferronickel wwwwww Hachinohe (Taiheiyo) Ferronickel Hachinohe (Mitsui) Zn, Pb Hikoshima (Mitsui) Zn Saganoseki (PPC) Cu Hyuga (Sumitomo) Ferronickel www Hishikari (Sumitomo) Au Shisaka (Sumitomo) ZnO www Besshi (Sumitomo) Ni Toyo (Besshi) (Sumitomo) Cul wwwww Hosokura (Mitsubishi) Pb ww Onahama (Mitsubishi) Cu Harima (Sumitomo) Ni sulfate Onahama (Toho zinc) Zn www Hitachi (Nippon mining) Cu, Sn Annaka (Toho zinc) Zn Matsuzaka (Vale) Ni oxide PPC (Pan Pacific Copper) Nippon mining > Mitsui JV 10 10

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