Japanese miner Sumitomo Metal Mining Co. Ltd. (SMM) has decided to spin off the construction consulting operations of Sumiko Consultants Co. Ltd. (Sumicon), a wholly owned subsidiary, and transfer all related business to Kabushikigaisha Chiken Sogo Konsarutanto, a wholly owned subsidiary of CTI Engineering Co., Ltd. (CTI), on September 1, 2010.
According to a company press release, in the coming days an agreement will be signed whereby Sumicon's construction consultancy services, including geological survey/analysis and other services focused on disaster prevention and environmental protection, will be transferred to CTI, one of Japan's leaders in those fields.
Sumicon will support the growth of SMM's core business in mineral resources through specialization in geological surveys, geophysical exploration and other resource-related surveys and development projects, SMM said.