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    8002   JP3877600001

MARUBENI CORPORATION

(8002)
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Delayed Japan Exchange  -  02:00 2022-08-09 am EDT
1334.50 JPY   -1.29%
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Japan's Marubeni, J-POWER to fund Glencore's carbon capture project in Australia

06/07/2022 | 09:32pm EDT
FILE PHOTO: The logo commodities trader Glencore is pictured in Baar

(Reuters) - Japan's Marubeni Corp and J-POWER will fund A$20 million ($14.44 million) in a carbon capture and storage project owned by mining giant Glencore in Australia, the companies said on Wednesday.

Glencore's CTSCo carbon capture and storage project in Queensland, Australia will capture carbon dioxide from the Millmerran coal power plant and store it underground.

Marubeni and J-POWER, which also operate joint venture projects with Glencore in Australia, will contribute A$10 million each towards the project, the companies said.

Carbon capture and storage has become a popular technology among major mining and energy firms, who are known to be heavy polluters, to invest in and offset their carbon footprints to meet net-zero targets.

($1 = 1.3848 Australian dollars)

(Reporting by Harshita Swaminathan; Editing by Shailesh Kuber)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ELECTRIC POWER DEVELOPMENT CO., LTD. 0.35% 1981 Delayed Quote.29.27%
GLENCORE PLC -0.23% 464.3 Delayed Quote.24.11%
MARUBENI CORPORATION -1.29% 1334.5 Delayed Quote.20.77%
All news about MARUBENI CORPORATION
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08/08Japan Index Ends with Marginal Gains; Suzuki Shares Rise 10% on Q1 Earnings
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08/04Marubeni Corporation Reports Earnings Results for the First Quarter Ended June 30, 2022
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Analyst Recommendations on MARUBENI CORPORATION
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Financials
Sales 2023 8 677 B 64 449 M 64 449 M
Net income 2023 432 B 3 209 M 3 209 M
Net Debt 2023 1 387 B 10 302 M 10 302 M
P/E ratio 2023 5,62x
Yield 2023 4,81%
Capitalization 2 319 B 17 224 M 17 224 M
EV / Sales 2023 0,43x
EV / Sales 2024 0,50x
Nbr of Employees 42 882
Free-Float 97,0%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 1 352,00 JPY
Average target price 1 651,11 JPY
Spread / Average Target 22,1%
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Managers and Directors
Masumi Kakinoki President, CEO & Representative Director
Takayuki Furuya Executive Officer & Manager-Corporate Planning
Fumiya Kokubu Chairman
Kyohei Takahashi Independent Outside Director
Yuri Okina Independent Outside Director
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