TOKYO -- Mitsui & Co. and Itochu will acquire interests in an iron ore mine in Western Australia, the Japanese trading houses said Tuesday, looking to tap expanding global steel demand due to economic development in India, Southeast Asia and elsewhere.
Materials
Japan's Mitsui, Itochu to acquire interests in Australia iron mine
Trading houses look to boost stakes across country amid high global steel demand
Mitsui & Co. is the leading Japanese company in terms of iron ore interests, followed by Itochu. (Mitsui & Co.)
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