It is reported that Japan's largest trading company Mitsui has announced to invest another US$340 million in JV with BHP Billiton.
The total capital investment is expected to reach US$7.4 billion, including Mitsui's share by US$340 million, that of BHP Billiton at US$6.6 billion.
Meanwhile, Mitsui approved pre-sanction of funding equivalent to approximately US$30 million, according to the official.
The company expects to expend its annual production capacity to 220 million tons respectively.
Meanwhile, the investment will be able to expend iron ore through its Western Australia iron ore operations in order to meet the global demand for a long run.
News Date 3/31/2011 1:33:08 AM reported by Jacky Huang |
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