Mitsui & Co., Ltd. has made a final investment decision (FID) for the joint development of the Ministers North iron ore deposit with BHP and Itochu Corporation. This project, located near the Yandi iron ore mine in Australia, aims to efficiently utilize existing infrastructure to address future production declines from Yandi. The shareholding interests are 7% Mitsui, 85% BHP, and 8% Itochu.
Production is expected to begin in the second half of 2028, with an annual output of around 20 million tons, bolstering Mitsui’s iron ore production significantly. This project aligns with Mitsui’s “Industrial Business Solutions 2.0” strategy to ensure the stable supply of essential resources and support long-term economic growth globally.
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Yandi Iron Ore Mine: Located approximately 13 km from Ministers North.
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Iron Ore Project Locations with BHP:
These initiatives are part of Mitsui’s broader strategy to enhance resource supply and meet growing steel demands, particularly in Asia.
