Mitsui to Acquire Interest in the Ministers North Iron Ore Deposit in Australia
Japan, Sept. 9 -- Mitsui & Co., Ltd. ("Mitsui") has agreed and signed related agreements today with the multinational mining and metals corporation BHP to acquire an indirect 7% interest in the Ministers North iron ore deposit ("Ministers North"), currently owned 100% by BHP.Itochu Corporation ("Itochu") has also agreed and signed the related agreements to acquire an indirect 8% interest in the Ministers North. Following the fulfillment of the conditions precedent, the shareholding interest of Ministers North between Mitsui, BHP and Itochu will become 7%, 85% and 8% respectively, aligned with the interest of the existing Western Australia iron ore business owned by the three companies.Ministers North is located in the Pilbara region of West...
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