Mitsui to develop South Flank iron ore mine in Australia

Mitsui & Co., Ltd.has decided to develop the South Flank iron ore mine through the Mt. Goldsworthy Joint Venture, which is jointly operated by Mitsui, BHP, and ITOCHU Corporation in Western Australia (Mitsui: 7%, BHP: 85%, ITOCHU: 8%). The total investment amount excluding the initial funding will be approximately US$3.4 billion, of which Mitsui’s investment will be approximately US$0.24 billion in proportion to its equity share. Operation of South Flank is planned to be launched in 2021, and the mine is expected to produce ore for more than 25 years.

Read more at Mitsui to Develop South Flank Iron Ore Mine in Australia.

 

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