Japan's mining sector is small in comparison with those of other large Asia Pacific nations,with the total value of the industry amounting to just USD3.2bn, which translates as less than 0.1% of GDP.
Activity is focused almost exclusively on gold mining at the Hishikari mine, which is owned and operated bySumitomo Metal Mining. At present we maintain a relatively healthy view as regards growth in goldproduction, with the company expected to expand the project in order to extend the life of the mine and newmining companies with a pipeline of projects. This development may see Japan resume its role as a net goldexporter over the next few years as price levels stabilise and grow. Aside from this, most new developmentsare likely to continue to take place overseas as companies scour the globe in search of new deposits andmining assets. As such, we expect Japan will remain a prominent power in global mining, albeit from adistance.
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As of May 1, 2017, Japan Gold Corp. had a project portfolio of 160 accepted prospecting rights licenseapplications covering 53,218 hectares of high-grade gold and potentially porphyry copper-goldmineralization, including several historical high-grade gold mines over 11 separate projects on three mainislands of Japan, Hokkaido, Honshu and Kyushu. In September 2016, Canadian miner Sky RidgeResources Ltd acquired Southern Arc Minerals Japan KK and changed the company's name to JapanGold Corp., launching the first foreign mineral exploration company to focus solely on Japan.