JX Metals Circular Solutions Co., Ltd. (JXCS*), a new joint venture between JX Advanced Metals Corp. and Mitsubishi Corp., began operations on July 1. JXCS will handle the resource circulation of waste home appliances, electronic equipment, and automotive lithium-ion batteries.

Mainly, JX Advanced Metals owns 80% of the joint venture, while Mitsubishi Corporation holds 20% ownership. The joint venture was announced in April 2024.

Toward Circular Economy

JXCS aims to contribute to the realization of a circular economy. Primarily, it will provide solutions to the challenges faced by automotive OEMs and general electronics manufacturers. Particularly, it involves resource circulation of waste home appliances, electronic devices, and automotive lithium-ion batteries.

Concurrent with JXCS starting operations, JX Metals’ Battery Material & Recycling Business Promotion Office in the Advanced Technology & Strategy Department of the Technology Group will cease to exist. Moreover, the functions of the Battery Material & Recycling Business Promotion Office related to the commercialization of lithium-ion battery recycling will be consolidated into JXCS. As for battery materials, JX Metals’ Technology & Strategy Department will continue its technological development toward future commercialization.

Going forward, the JX Advanced Metals Group will continue to make concerted efforts to ensure the successful implementation of the growth strategies set out in its Long-Term Vision 2040.

* JXCS will take over part of JX Advanced business entailing collection of raw materials for recycling and recycling of waste automotive lithium-ion batteries, as well as the business involving collection of raw materials for recycling from JX Metals Trading Co., Ltd.

In addition, two group companies will become wholly owned subsidiaries of JXCS: (1) JX Metals Circular Solutions, Co., Ltd., a wholly owned subsidiary of JX Advanced Metals engaged in demonstration tests related to the recycling of waste automotive lithium-ion batteries, which will change its name to JX Metals Circular Solutions Tsuruga Co., Ltd.; and (2) JX Metals Takasho Co., Ltd., a wholly owned subsidiary of JX Metals Trading Co., Ltd.

-08 July 2024-