News Release

JX Advanced Metals Corporation (President: Hayashi Yoichi; hereinafter, "the Company") today announced that it has entered into an agreement with RZ Resources of Australia (Founder & Executive Chairman: David Fraser) to acquire a 5% interest in the Copi Project for a final payment of A$20 million with an additional contribution option of A$5 million and a further A$5 million in convertible funding. The Copi Project is a mineral sands¹⁾ deposit in which RZ Resources owns a 100% interest and is currently conducting a feasibility study²⁾. We will continue to pursue further feasibility studies and environmental impact assessments for this project.

　

In the JX Advanced Metals Group Long-Term Vision for 2040, the group aims to contribute to the realization of a sustainable society as a global leader in semiconductor materials and ICT materials. The vision positions Focus Businesses, consisting of the Semiconductor Materials Segment and the ICT Materials Segment, as the core of its growth strategy. Meanwhile, Base Businesses, consisting of businesses in the Metals & Recycling Segment, are positioned as the foundation to support the Focus Businesses through stable supply of copper and minor metals under an optimally sized business structure. Minor metals especially are indispensable raw materials for advanced semiconductors and are used in the development and production of semiconductor materials by our group. However, due to a combination of scarce deposits and ubiquitous usage, competition for these metals is intensifying worldwide, and securing a stable supply of the necessary amount has become an urgent issue.

　

Against this background, the results of the studies that RZ Resources has been conducting on the Project since 2017 have revealed that the mine has the potential to be a promising long-term source of a variety of minerals, including zircon, rutile, ilmenite, monazite, and other minor metals and rare earths used in the Company's Focus Businesses. In addition, the Project is located in the geopolitically stable southeast of Australia, with good transportation infrastructure, including shipping routes. We believe that this project has the potential to reinforce our group's supply chain and contribute to strengthening the foundation and competitiveness of our Focus Businesses with a relatively small investment. We therefore decided to enter into this farm-in agreement with RZ Resources premised on our acquisition of an interest in the project.

　

In keeping with the JX Advanced Metals Long-Term Vision 2040, the Company will continue carrying out measures to transform itself into a technology-based company, with the aim of becoming a global company contributing to the growth and innovation of society through advanced materials.

　

Note 1 Mineral sand; Sand deposit in which heavy minerals are concentrated by the action of water flow.

Note 2 Feasibility study; Comprehensive evaluation of a project or business to investigate and verify its feasibility and development potential.

　

Reference 1:

Location of Copi project

　

Copi project region

　

　

Reference 2: Datailes of RZ Resources

Company name	RZ Resources
Location	Brisbane, Queensland, Australia
Established	2012
Founder & Executive Chairman	David Fraser
Business	Development of Copi Project