August 1, 2014
News Release
JX Nippon Mining & Metals Corporation
Mitsui Mining & Smelting Co., Ltd.
Pan Pacific Copper Co., Ltd.
Mitsui & Co., Ltd.
Official Opening of Caserones Copper Mine in Chile and Start of Copper Concentrate Shipment
Pan Pacific Copper Co., Ltd. (president: Shigeru Oi), an integrated copper enterprise jointly established by
JX Nippon Mining & Metals Corporation (president: Shigeru Oi) and Mitsui Mining & Smelting Co., Ltd.
(president: Sadao Senda), and Mitsui & Co., Ltd. (president: Masami Iijima) announced that SCM Minera
Lumina Copper Chile (“MLCC”; CEO: Nelson Pizarro), operator of the Caserones Copper Mine, held an
opening ceremony for the mine on July 30th local time in Santiago, one day after the first shipment of copper
concentrate left for Japan.

The ceremony was attended by more than 500 persons, including Japanese Prime Minister Shinzo Abe,
Chilean Mining Minister Aurora Williams, and other government officials from Japan and Chile, along withrepresentatives from partner companies, financial institutions, local parties, and others involved in the project.

The Caserones Copper Mine is a resources development project wholly owned by Japanese companies, which
has been under way for eight years since the mining concession was acquired in 2006. Production of refinedcopper began in March 2013 and of copper concentrates in May 2014. The volume of copper concentrates to be
produced here is equivalent to around 10 percent of the Japanese import volume. It is expected to contribute to
the stable supply of copper resources to Japan through the year 2040. The development of the project is also
important for the growth of the Chilean economy, and each of the companies investing in it will provide support
toward stable operation by MLCC, helping to strengthen ties between Japan and Chile.

On July 29th, the Koryu carrier ship set out from the Chilean port of Coquimbo loaded with approximately
5,000 tons of copper concentrate. The ship is expected to arrive at the Saganoseki Smelter & Refinery of Pan
Pacific Copper in late September.

Photo: Ribbon-cutting at the opening ceremony
From left:

Masami Iijima (President and CEO of Mitsui & Co.), Sadao Senda (President and Representative

Director of Mitsui Mining & Smelting), Fumiaki Watari (Honorary Executive Consultant of JX Holdings),
Yasushi Kimura (Chairman of the Board of JX Holdings), Hidenori Murakami (Ambassador Extraordinary andPlenipotentiary of Embassy of Japan), Shigeru Oi (President and CEO of JX Nippon Mining & Metals),
Shinzo Abe (Japanese Prime Minister), Nelson Pizarro (CEO & General Manager of MLCC),

Aurora Williams(Mining Minister), Máximo Pacheco (Energy Minister), Miguel Vargas (Governor of Atacama Region), Osvaldo
Delgado (Mayor of Tierra Amarilla)

Photo: Loading the initial shipment of Caserones copper concentrate onto the Koryu carrier ship

（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 theborder with Argentina. The deposits lie at altitudes between 4,200meters to 4,600meters above sea level.

Caserones Mine

2. History:
May 2006

Pan Pacific Copper acquired the mining concession

Sep. 2009

Decided to move the project into the feasibility study stage

Feb. 2010

Decided to construct the mining and production facilities
Mitsui & Co. participated in the projectMar. 2013

Obtained the first refined copper by hydrometallurgical SX-EW process

May 2014Commenced production of copper concentrate

3. 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 copper

6. Expected Production Volume：(All numbers are approximate)（Initial Ten Years）
Annual average
Concentrate
Copper

150,000 t/y（copper content）
Refined copper

30,000 t/y

Total

180,000 t/y

Molybdenum

3,000 t/y

（28 years）
Annual average
Concentrate
CopperTotal for 28 years

110,000 t/y

3,140,000 t

Refined copper

10,000 t/y

410,000 t

Total

120,000 t/y

3,550,000 t

3,000 t/y

87,000 t(copper content)

Molybdenum