TOKYO, June 26 (Reuters) - Japan's JX Advanced Metals, a

unit of Eneos Holdings ( JXHGF ), said on Wednesday it has agreed

to sell an additional 19% stake in the operator of Caserones

copper mine in Chile to Canada's Lundin Mining ( LUNMF ) for $350

million.

The deal will reduce JX's stake in the operator, SCM Minera

Lumina Copper Chile (MLCC), to 30% from 49% while boosting

Lundin's stake to 70% from 51%, the Japanese company said in a

statement.

JX, which changed its name from JX Metals in May, sold 51%

of its shares in the operator to Lundin in July 2023, with a

call option to acquire an additional 19% of the shares within

one to five years. Lundin has now exercised that option, JX

said.

For JX, the deal, set to be completed in July, is part of an

asset portfolio reshuffle. It looks to focus on the advanced

materials business, such as sputtering targets for

semiconductors, while managing volatility in its resource

business.

Asked whether JX plans to sell an additional stake in MLCC,

a company spokesperson said: "We want to maintain a certain

level of copper mine interests from the perspective of raw

material procurement, but we will also continue to review our

portfolio."

Its parent Eneos ( JXHGF ), Japan's biggest oil refiner, said the

latest deal will have limited impact on its earnings for the

year ending March 31.

Last year, Eneos ( JXHGF ) said it was preparing to list shares in JX,

although the plans had yet to be finalised.