TOKYO -- Japanese trading house Mitsui & Co. announced the acquisition of a 40% interest in the Rhodes Ridge iron ore project in Australia on Wednesday. The company will buy 25% and 15% stakes from two existing investors for a total of $5.34 billion.
Materials
Japan's Mitsui & Co. to buy $5bn stake in Australian iron ore project
CEO confident that demand from Southeast Asia and India can complement Chinese market
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Rio Tinto's iron ore project in Australia: Mitsui & Co. partners with the Australian company to expand the mineral and metal resource businesses. (Photo by Rio Tinto)
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