September 24, 2014
JX Nippon Mining & Metals Corporation
Mitsui Mining & Smelting Co., Ltd.
Pan Pacific Copper Co., Ltd.
Ceremony Marking the Arrival of theFirst Shipment from the Caserones Copper MineOn September 22, Pan Pacific Copper Co., Ltd. (“PPC”; president: ShigeruOi) – a joint venture established by JX Nippon Mining & Metals
Corporation (president: Shigeru Oi) and Mitsui Mining & Smelting Co.,
Ltd. (president: Sadao Senda) held a ceremony at Saganoseki Smelter &Refinery (Oita City, Oita Prefecture) and at a hotel in Oita City marking
the arrival of the supply ship Koryu at Saganoseki Smelter & Refinery
laden with the first shipment of copper concentrate produced at theCaserones Copper Mine in Chile .
About 100 guests were present at the ceremony, including Governor
Hirose of Oita Prefecture, Mayor Kugimiya of Oita City, government
officials and representatives of business partners, financial institutions
and local organizations. Addressing the ceremony, President Oi said, “Thedevelopment of the Caserones Copper Mine required a vast amount ofback-breaking effort in a harsh environment at an altitude of more than
4,000 meters. Finally after all these efforts, the first shipment of copper
concentrate has now arrived in Japan after a six-week Pacific crossing.
There is no doubt that the Caserones Copper Mine will make a major
contribution to the stable supply of copper resources to Japan for the next
28 years. The project is also highly significant for the PPC Group, since wewill be able to procure half of our total copper concentrate requirementsfrom our own mining interests. This will empower us to build a robust
revenue base that is resilient to fluctuations in concentrate supply anddemand and market conditions.”
The Caserones Project is wholly owned by Japanese companies and tookapproximately eight years to develop following the acquisition of mining
rights in 2006. Production of electrolytic copper started in March 2013
followed by the production of copper concentrate in May 2014. During
fiscal 2015, the first year of full operation, the Caserones Copper Mine willproduce approximately 150,000 tons (copper content) of copper concentrate,equivalent to about 10 percent of Japanese copper import. Most of thisoutput is scheduled to be processed at PPC’s smelters and refineries
located in Japan. It is expected that high-grade Caserones copper
concentrate will ensure highly efficient and stable refinery operations.

1Photo: The ceremony held at Saganoseki Smelter & Refinery

2

（For reference）
An outline of the Caserones Copper Mine
1. Location:
162 kilometers southeast of Copiapo, the capital of the Atacama Region of Chile, and 15
kilometers from the border with Argentina. The deposits lie at altitudes between 4,200meters to4,600meters above sea level.

Caserones Mine

2. History:May 2006
Sep. 2009
Feb. 2010
Mar. 2013
May 2014July 2014

Pan Pacific Copper acquired the mining concession
Decided to move the project into the feasibility study stage
Decided to construct the mining and production facilities
Mitsui & Co. participated in the project
Obtained the first refined copper by hydrometallurgical SX-EW process
Commenced production of copper concentrate
Started copper concentrate Shipment from the Chilean port of Coquimbo
Held an opening ceremony in Santiago

3. Operator: SCM Minera Lumina Copper Chile (MLCC)
Equity shares in MLCC:
Pan Pacific Copper 77.37%（JX Nippon Mining & Metals 66％, Mitsui Mining & Smelting 34%)
Mitsui & Co.
22.63%
4. Expected Mine Life: 28 years (2013～2040)
5. Production Process:《Production of copper and molybdenum concentrates》
Crushing / grinding ⇒ flotation / dewatering / draining⇒ copper concentrate and molybdenum concentrate
Open-pit mining《Production of refined copper by SX-EW process》
Dump-leaching ⇒ SX-EW ⇒ Refined copper3

6. Expected Production Volume：（Initial Ten Years）(All numbers are approximate)
Annual average
150,000 t/y

Concentrate
Copper（copper content）
Refined copperTotal
Molybdenum

30,000 t/y
180,000 t/y
3,000 t/y

（28 years）

CopperConcentrate(copper content)
Refined copper
Total
Molybdenum

4

Annual average
110,000 t/y

Total for 28 years
3,140,000 t

10,000 t/y
120,000 t/y
3,000 t/y

410,000 t
3,550,000 t
87,000 t