OREANDA-NEWS. Pan Pacific Copper Co., Ltd., an integrated copper enterprise jointly established by JX Nippon Mining & Metals Corporation and Mitsui Mining & Smelting Co., Ltd., and Mitsui & Co., Ltd. announce the latest status of the Caserones Copper and Molybdenum Deposit Development Project in Chile (hereinafter "the Project") as follows.

The Project is currently in the final construction stage and efforts are being made toward the early completion of the construction and start of copper concentrates production.

1. Future Prospects
(1) Commencement of copper concentrates production: January 2014
(2) Initial capital expenditure to the commencement of copper concentrate production: Approximately USD4.2 billion

2. Background for the above Prospects
Impacts on construction due to the following factors, as well as measures taken to avoid further construction delays
- Difficulty due to worse bedrock conditions than anticipated.
- Shortage of construction workers and rising labor costs due to the development and expansion of large mining projects concurrently running in Chile.
- Effects of development interruption due to the labor strike for better working conditions and bad weather.

3. Others
(1) As for the construction necessary for the start of copper concentrates production, the main civil engineering and building construction works have been completed, mainly leaving equipment installation.
(2) Production of refined copper by means of solvent extraction and electrowinning (SX-EW) was already started on March 14, and the operation is proceeding basically on schedule.