JX Nippon Mining to sell its stake in South Korea's copper smelter for $727 mln

LS

19/05/2022 08:02

TOKYO, May 19 (Reuters) - JX Nippon Mining & Metals Corp, a
unit of Japan's oil and metals giant Eneos Holdings Inc
 5020.T , said on Thursday it will sell its entire stake in
South Korea's copper smelter LS-Nikko Copper to its partner LS
Corp  006260.KS  for 930 billion won ($727 million).
    JX Nippon Mining has decided to sell its 49.9% stake to LS
Corp, which holds the remaining stake in the smelter, to
concentrate management resources on more important areas, it
said in a statement. 
    ($1 = 1,278.6700 won)

 (Reporting by Yuka Obayashi; Editing by Toby Chopra)
 ((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))