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Sumitomo Metal Mining increased its full-year net profit forecast by 89% to 140 billion yen ($893 million) due to rising copper and gold prices. The previous estimate was 74 billion yen. For the nine months ending December, net profit surged to 108.2 billion yen from 29.6 billion yen a year earlier.

The company adjusted its shareholder remuneration policy to target a 55% equity ratio and raised its minimum dividend-on-equity ratio to 3.5%. Dividend forecasts were also increased to 183 yen per share. Ongoing negotiations for treatment and refining charges with global miners are aimed at exceeding China's benchmarks.