JX Nippon Mining appoints new president, sets out long-term vision

Japan's JX Nippon Mining & Metals, a mining and smelting unit of JXTG Holdings Inc, said on Monday that Seiichi Murayama, senior executive officer, will become its new president on June 26, replacing the current president Shigeru Oi.

Under a long-term vision through 2040 announced on Monday, JX Nippon Mining aims to transform itself into a company focusing on advanced materials from a company centering on mining and smelting by mainly investing in downstream operations.

JX Nippon Mining, which operates the Caserones copper mine in Chile, plans to keep a certain stake level in copper mines while it may consider investing in rare metals mines which have a synergy with its materials business, it said.

(By Yuka Obayashi; Editing by Louise Heavens)