TOKYO, Mar 10 (Pulse News Wire) – JX Advanced Metals Corporation (5016.T) decided today to sell its stake in SCM Minera Lumina Copper Chile (MLCC) and its share of the Frontera copper mine project to Lundin Mining Corporation’s subsidiary, LMC Caserones SpA, for approximately $1.4 billion. The transaction includes MLCC shares worth 5% and the entire Frontera project equity held by JX's group.
Proceeds will fund expansion of semiconductor sputtering target manufacturing equipment and acquisition of focus area assets. JX aims to optimize resource and metal recycling businesses while enhancing capital efficiency through strategic asset reallocation. The funds will also support capacity enhancement investments at Hitachinaka New Plant, previously announced .
This move aligns with JX’s long-term vision to accelerate growth in advanced materials sectors. In related developments, JX retains priority rights to copper concentrates and cathode production from the Caserone mine post-transfer. The deal marks a significant step towards portfolio transformation and achieving the company’s 2040 vision.
🟡 Confidence: Standard AI-translated content.