Mitsui to Acquire Interest in the Ministers North Iron Ore Deposit in Australia

Published: Sep 9, 2025 14:03

Save

Mitsui today reached an agreement with BHP to acquire an indirect 7% interest in the Ministers North iron ore deposit, while ITOCHU also reached an agreement with BHP to acquire an indirect 8% revenue interest in the same deposit. The current ownership structure of the deposit stands at 7%, 85%, and 8% respectively.

Located in Western Australia's Pilbara region near the Yandi mine, Ministers North is an iron ore mine and infrastructure jointly owned by Mitsui, BHP, and ITOCHU. As an open-pit operation, it benefits from low operating costs. A final investment decision on the development of Ministers North may be made by June 2026.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

[SMM Steel] 8.13 SMM Global Steel Daily Report

On August 13 China's steel export prices eased broadly. Some flat-product export prices fell 1 USD/tonne day on day, with HRC transactions at 482-485 USD/tonne; prices edged up over the week, and both traders and mills reported that enquiries and concluded business were only ordinary, with just some small-lot orders done. Billet export FOB prices fell 1-2 USD/tonne, with Jiangyin port offers at 448-453 USD/tonne; billet export enquiries were reasonable but competition is fierce and exporters conceded on price, so business improved somewhat. Rebar export offers at Tianjin port slipped 1 USD/tonne with transactions at 471-476 USD/tonne; overseas enquiries were fair and some exporters concluded small lots, but overseas demand shows little urgency and the market remains in its seasonal lull.

11 hours ago

13 hours ago

Primetals Technologies to Modernize KG Steel's Cold Rolling Mill in South Korea

Primetals Technologies has signed a contract to modernize the pickling line and tandem cold rolling mill (PLTCM) at KG Steel Co.'s facility in Dangjin, South Korea, with the 18-month project covering a comprehensive upgrade of the plant's automation systems. The existing basic automation will be replaced with the SIMATIC S7-1500 platform, while new AI-supported process automation aims to improve strip thickness and flatness control across KG Steel's galvanized, tinplate, and "XTONE" pre-coated product lines. A "shadow mode" transition will run the new system alongside the old to limit production disruption during commissioning.

13 hours ago

Hoa Phat to Expand Dung Quat Rail Steel Project by 2 Million Tons

Vietnamese steelmaker Hoa Phat Group is planning to expand its railway and special steel rail production project in the Dung Quat Economic Zone, adding over 76.9 hectares and a further 2 million tons/year of capacity, with the expansion estimated to cost around VND 20 trillion. The existing facility, covering about 15 hectares, has a designed capacity of 700,000 tons/year and an investment of over VND 10 trillion, with rail output for high-speed lines targeted for 2027. Including this project, Hoa Phat now has seven approved projects in Dung Quat with combined planned investment near VND 194 trillion and total capacity set to reach roughly 12.8 million tons/year.

13 hours ago