Osaka Bay Mining today announced that its metals and minerals production for Q2 2020 is up by 14 percent.
Online PR News – 31-July-2020 – OSAKA – The results are based on Osaka Bay Mining's operating income and main business of mined gold, copper and zinc and various rare earth elements mined in the East China Sea.
Osaka Bay Mining's production of mined gold was up 7.5 tonnes, copper was up 81,000 tonnes and zinc production was up 89,000 tonnes. Osaka Bay Mining's sales revenue increased by 18 percent which is huge bonus considering the COVID-19 pandemic, where elsewhere around the world there was a significant decline in the prices of copper and zinc during the first quarter of this year.
Osaka Bay Mining’s Chief Operations Officer, Ms. Aya Sasamoto commented on the Second Quarter results saying “Our sustainability is because of the projects we have acquired where production wasn’t halted. Osaka Bay Mining has multiple active projects which enables us to continue production where other mines have slowed down production.”
“We are actively reviewing all our mining and exploration projects to continue production at a steady and sustainable rate. Going into the Third Quarter, we have highlighted cobalt and cathode copper regions and we will be sending out team to get all the necessities in place before we start the exploration process,” added Aya Sasamoto, Chief Operations Officer of Osaka Bay Mining.
About Us - Osaka Bay Mining
Osaka Bay Mining is dedicated to exploring undersea locations for rare earth metal concentrations and developing the mining infrastructure required to capitalize upon this multi-billion dollar market. We focus our operations in a variety of locations throughout the East China Sea and the Philippine Sea, and the wider Pacific Ocean.
Worldwide production of rare earth metals exceeds 130,000 tons. In terms of consumption, Japan is the 2nd largest consumer of rare earth metals, with approximately 25% of global consumption, driven by its electronics, scientific and advanced manufacturing industries. The Japanese Ministry for Economy, Trade and Industry’s (METI) Agency for Natural Resources & Energy have implemented several policies with the aim of creating a conducive business environment for developing production of rare earth metals in the Japan.
Osaka Bay Mining’s exploration locations are within 200km of the coast of the islands of Japan, including Kiisuido Strait and Harima-nada Sea, and Osaka Bay itself (the Osaka Bay Complex), in the East China Sea and the Philippine Sea, and the wider Pacific Ocean, including the Okinawa Through. Following our initial exploration of over 200 sites, we estimate that in excess of 80 billion tons of rare earth metals are deposited in the sediment on the floor of the Pacific Ocean.