Mitsui Invests $5.3 Billion in Rhodes Ridge to Boost Iron Ore Supply in Australia

Post Views: 401 Mitsui Japan’s Mitsui Targets 80 Million Tons Annual Offtake through New Deal Japanese trading company Mitsui & Co. is investing $5.3 billion to acquire a 40% stake in the Rhodes Ridge Joint Venture (RRJV) in Western Australia. This major investment strengthens Mitsui’s long-term iron ore supply network and deepens its partnership with mining leader Rio Tinto. The 40% acquisition comes from two separate stakeholders—VOC (25%) and AMB (15%). Once completed, Mitsui will become the second-largest stakeholder after Rio Tinto, which holds 50%. The transaction is set to close bef...