JX to exit Indonesia Cu smelting venture

摘要

Japanese metals firm JX Nippon Mining & Metals plans to exit Indonesia’s PT Smelting copper venture after reviewing its asset portfolio to focus on core business areas. JX will sell its 5pc share in the joint venture to Freeport Indonesia, one of the venture partners. The company did not disclose further details of the planned share sale. JX made the decision under its strategy to focus its management resources on focus areas, such as competitive resource, metals and recycling businesses, and advanced materials.