Nippon Mining & Metals, Mitsui Mining & Smelting and Pan Pacific Copper (PPC) have created two subsidiaries called JX Metal Smelting and Hibi Smelting in Japan to handle the trio’s copper operations.
The three companies had been planning a revision to their copper operations, the commencement of which is slated for April.
The trio also announced that under their basic agreement Pertaining to PPC’s resources business, Caserones Copper Mine in Republic of Chile will be transferred to Nippon Caserones Resources, which will be funded by JX Metals and Mitsui Kinzoku. Other mineral exploration resource projects are likely to be transferred to JX Metal or sold by PPC.