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PCB | March 16, 2011

Mitsubishi Materials: 'Force Majeure at Onahama smelter'

Mitsubishi Materials, has declares Force Majeure on deliveries concerning its Onahama copper smelter.
The company, third largest copper refiner in Japan, has stopped all operations at their Onahama copper smelter (Fukushima prefecture). Furthermore, Mitsubishi Materials has declared force majeure on all deliveries to the facility, several media reports state.
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Note: Force majeure (French for "superior force"), also known as cas fortuit (French) or casus fortuitus (Latin), is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, or an event described by the legal term "act of God" (such as flooding, earthquake, or volcanic eruption), prevents one or both parties from fulfilling their obligations under the contract. [Wikipedia]

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