Mitsui and ltochu acquire interest in the iron ore deposit in Australia
Release Date:
2025-09-12
Japan's Mitsui & Co.. Ltd. has announced that it has acquired a seven percent indirect interest in the Ministers North deposit. aproject currently fully owned by Australian miner BHP. This strategic move highlights Mitsui's decades-long engagement inPilbara's iron ore industry and deepens its partnership with both BHP and ltochu Corporaion, which also acquired an eight percentstake.
Ministers North is located in the Pilbara region of Western Australia, which is one of the world's richest iron ore hubs. Since the1960s, Mitsui has been engaged in iron ore proiects in this region. The site is located close to existing mines, railways, and poriacilities that are already iointlv operated by Mitsui. BHP, and ltochu. This proximity is expected to reduce develooment costsenable seamless intearation with current operaions, and ensure that the mine operates at a highly competitive cost level.
The develooment of Ministers North remains subiect to a final investment decision, which is expected by june 2026. Once theproiect moves fonward. it wil increase Mitsui's eauity-based iron ore production volume, reinforce its long-term earnings base. andcreate operational svneraies with the existina Western Australia iron ore proiects.
From: Steel Orbis
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