Codelco Celebrates 20-year Anniversary of the Japan Moly Working Group with Visit from Japanese Executives

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Codelco Celebrates 20-year Anniversary of the Japan Moly Working Group with Visit from Japanese Executives

Created in 2004 by Japanese steel companies, the group set out to stabilize the supply of molybdenum, a key metal used in the production of high quality steels.

Codelco and its subsidiary Molyb welcomed executives from primary Japanese steel companies and senior Japanese government officials to celebrate the 20-year anniversary of the Japan Moly Working Group (JMWG), which brings together the main buyers of molybdenum from Japan.

The meeting included a visit to the Molyb plant in the Chilean port city of Mejillones and a meeting with Mr. Ruben Alvarado - CEO of Codelco, among other activities.

The Japanese delegation was led by Mr. Shinya Kawamura - a senior official of the Ministry of Economy, Trade and Industry, Mr. Masayuki Hamamatsu - a representative of the Japan Bank for International Cooperation (JBIC), and executives of steel firms JFE Steel, Nippon Steel, Kobe Steel, Daido Steel, and Proterial. Also in attendance for Codelco were Mr. Braim Chiple - Vice President of Sales, along with the by-product sales team led by Mr. Angelo Rabagliati, and Mr. Daniel Ureta - General Manager of Molyb (i).

The creation of the JMWG responded to Japan's interest in ensuring the supply of molybdenum for its metals sector. "As you know, molybdenum is an indispensable resource for producing high-quality steel. Codelco's steady supply of this metal to Japan dates back to more than 40 years. It is important to note that molybdenum has been a mainstay of the Japanese economy and one of Japan's key industries - metals" said Shinya Kawamura.

Meanwhile, Braim Chiple stressed that "nurturing long-term business relationships is evident in our uninterrupted years of history with Japan. Our primary goal is to maintain our reputation as the most dependable partner in the Japanese steel industry".

Chile's trade relationship with Japanese steelmakers was further solidified when the JMWG alliance was created 20 years ago. In fact, the construction and 2016 inauguration of the Molyb plant in Mejillones was only possible thanks to JBIC funding.

"Japan, as a technological powerhouse, underscores the critical need for a stable supply of strategic metals. Molybdenum, essential not only in the metals sector but also in the production of high-tech materials, highlights Codelco's pivotal role in ensuring this supply," remarked Mr. Naohiro Yamauchi, representing JFE Steel and JMWG.

  Codelco