News Release

FY2021

May 18, 2021

JX Nippon Mining & Metals Corporation

Intermediate Target Set for Fiscal 2030 as a Step toward Net-Zero CO2 Emissions:Group CO2 Emissions to be Reduced by 50 Percent 10 Years Ahead of Schedule

JX Nippon Mining & Metals Corporation (President: Murayama Seiichi; "the Company") has set an intermediate target for fiscal 2030 of reducing the Group's CO2 emissions to 50 percent of fiscal 2018 emissions, as a step toward achieving net-zero CO2 emissions by fiscal 2050. This will result in the target set previously--a 50 percent reduction by fiscal 2040--being achieved 10 years ahead of schedule.

 

Dealing with climate change is an urgent issue requiring action on a worldwide scale, and initiatives to address this issue in individual countries and corporations are gaining increasing pace. Having set net-zero CO2 emissions in fiscal 2050 as its final target, the Company regarded it as essential to establish a target for fiscal 2030 as a step toward achieving this, and it has discussed on this intermediate target. When defining the specific emissions reduction target, the Company considered the progress of its existing emissions reduction measures and set a rate of reduction that would compare favorably with world-class standards, aiming to be the ESG leading company in the non-ferrous metals industry.

 

First of all, as one of its measures to achieve this target, the Company is expediting the adoption of CO2-free electric power in all our Group's business areas. CO2-free electric power has already been adopted at the Caserones Copper Mine since January 2021, and the Company will continue to introduce it at major operating sites in Japan and overseas progressively over time.*1

Other measures include the following, the Company is also conducting capital investment to generate renewable energy, and making use of PPA*2 models, furthermore, investigating how to dramatically reduce CO2 emissions through such means as fuel switching and fundamental process development.

 

In addition to these initiatives, other measures the Company is pursuing include developing products and technologies that will contribute to the decarbonization of society. In particular, the Company is working to reduce energy consumption and make effective use of resources by using excess reaction heat from copper smelting to treat recycled raw materials. We will promote "hybrid smelting" by incorporate even higher levels of these recycled raw materials.

The Company is seeking to financially support the implementation of these measures by setting an ESG investment limit total of 20 billion yen over the next two years.

 

The Company will continue contributing to decarbonization and the creation of a sustainable society through integrated operation of its businesses spanning mineral resources, metal smelting, advanced materials, and recycling and environmental services.

 

*1 Introduction of CO2-Free Electric Power Already Completed, and Scheduled

Month of Introduction Business Area Name of Operating Site
January 2021 Mineral resources Caserones Copper Mine (SCM Minera Lumina Copper Chile)
January 2021 Tantalum and Niobium Goslar (TANIOBIS GmbH)
April 2021 Functional Materials Kurami Works
April 2021 Thin Film Materials Isohara Works
June 2021 Metals & Recycling Saganoseki Smelter & Refinery (JX Metals Smelting Co., Ltd.)

 

*2 PPA stands for Power Purchase Agreement. It refers to agreements whereby consumers (electricity users) offer power producers space, often on the grounds or roofs of their properties, and the power producers install, operate, and maintain power generation equipment, supplying the power generated to the consumers.