News Release


July 17, 2018

JX Nippon Mining & Metals Corporation

Establishment of a New Business Base in the United Kingdom

JX Nippon Mining & Metals Corporation (President: Shigeru Oi; “JXNMM”) has established Nippon LP Resources UK Limited (“NLPR UK”) as its new business base in London. JXNMM has also set up NLPR UK Chile Branch in Santiago, Chile, sending staff from Japan to them and beginning full-scale business operations.

London is one of the main global financial trading and commodity transactions centers as well as an important center of market information regarding copper. It is therefore the place where the headquarters of major resource companies and many other corporations involved in the copper business are concentrated, along with offices of international organizations and industry associations. JXNMM sees NLPR UK as an important base in London for gathering information about mining, metallurgy and other related areas, so as to strengthen our core businesses including resources development and smelting and refining.

NLPR UK holds interest in the Los Pelambres Mine in Chile for JXNMM and Marubeni Corporation. The mine is an important source of raw materials procured by the smelters and refineries under our subsidiary Pan Pacific Copper Co., Ltd. Through NLPR UK, JXNMM seeks to build up stronger relations with London-headquartered Antofagasta plc, the majority shareholder in the mine, while also forming closer ties and liaison between NLPR UK Chile Branch and Minera Los Pelambres, the operator of the mine, located in Santiago, Chile. In these ways, JXNMM aims to increase our involvement in the operation and administration of the mine, and to enhance the profitability of the resources development business.

For Reference

Overview of NLPR UK

(1) Name Nippon LP Resources UK Limited
(2) Location London, England
(3) Name and title of representative Kentaro Tanaka, Managing Director
(4) Business operations Investment management and information-gathering
(5) Equity ownership Nippon LP Resources B.V.: 100%
(JXNMM: 63.16%, Marubeni: 36.84%)

Overview of NLPR UK Chile Branch

(1) Name Nippon LP Resources UK Limited, Agencia en Chile
(2) Location Santiago, Chile
(3) Branch head Yosuke Murao, General Manager (Deputy General Manager, JX Nippon Mining & Metals Chile Office)

Overview of Los Pelambres Mine

(1) Location Coquimbo, Chile
(2) Production start January 2000
(3) Ore reserves (as of Dec. 31, 2016) Approx. 6.1 billion tons (copper grade 0.51%)
(4) Copper production volume Approx. 400,000t/year
(5) Equity shares Antofagasta plc: 60.00%
JXNMM: 15.79%
Marubeni Corporation: 9.21%
Mitsubishi Materials Corporation: 10.00%
Mitsubishi Corporation: 5.00%