Sumitomo Metal Mining Co., Ltd.

Asian Activities Report for November 23, 2011 includes: Air Liquide (EPA:AI), the world leading industrial gas supplier, has formed a 50/50 joint venture with China Petroleum and Chemical Corporation ("Sinopec") (NYSE:SNP) (HKG:0386) (SHA:600028) to jointly invest Euro 85 million in a refinery expansion project in Maoming, Guangdong Province, China; TNG Limited (ASX:TNG) reports positive interim results from the Pre-Feasibility Study ("PFS") on its 100%-owned Mount Peake Iron-Vanadium Project in the Northern Territory; Sumitomo Metal Mining Co., Ltd. (TYO:5713) has established a subsidiary in Brazil to look for opportunities to acquire interests in copper, gold, nickel or other resources project; Western Desert Resources Limited (ASX:WDR) has signed a Memorandum of Understanding with Xstrata Zinc to investigate the feasibility of gaining access to Xstrata Zinc's McArthur River Mine loading facility.

Asian markets ended sharply lower Friday, weighed down by the weakness in the US and European markets. Japan's Nikkei Stock Average fell 1.9% as investors were still not comfortable with the recent falls of Japanese yen, but the slumping Korean won hurt shares in Seoul with the Kospi plummeted 3.7%. Shanghai and Hong Kong stocks gained about 1.5%. Today the Chinese shares opened slightly weaker while the Hong Kong shares were up 1.8 percent.