Japan's JX says its Pan Pacific Copper unit sells stake in Peruvian mine to Glencore
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Japan's JX Advanced Metals announced its Pan Pacific Copper unit sold its stake in Peru's Quechua copper project to Glencore. This move aligns with JX's strategy to focus on advanced materials over volatile mining operations. PPC had acquired the stake for $40 million but prioritized other projects. JX is shifting towards materials for electronics and telecommunications, having faced losses in mining. The company is considering options for its remaining Chilean mine stakes.
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