LS Group, a South Korean chaebol agreed to acquire the remaining 49.9% stake in LS-Nikko Copper, its copper smelter joint venture with JX Nippon Mining & Metals, a company in the field of nonferrous metals, for $727m. "While we strengthen the "base business" through this divestiture, at the same time, the JX Nippon Mining & Metals Group is steadily taking steps to further expand the "focus business" centered on the advanced materials field. The initiatives include the decision to construct a new factory in Hitachinaka, Ibaraki Prefecture. The Company group will continue to take actions proactively and in an agile manner to realize its Long-Term Vision 2040," JX Nippon Mining & Metals.