Japanese Business Houses Expands Iron Ore Rights

Japanese business houses are enhancing recurring of iron ore resource. Mitsubishi Corporation started the development of Australian ore. Sojitz secured the right for the first time. Mitsui Corporation and Itochu Corporation have the right major iron ore supplier such as CVRD, but Mitsubishi, Sojitz, Sumitomo Corporation and Marubeni Corporation are other source except of 3 major suppliers and get to new business chance with tight supply and demand. Japanese business houses’ right increased to over 86 million tonnes by over 1.5 times in 2015.Mitsubishi will develop Australian mine with Murchison Metals in Australia at 300 billion yen and will start the operation at 20 million tonnes per year from 2011. Mitsubishi decided the expansion of joint company in Canada with Rio Tinto and launch exploration of new iron ore mine in Canada or Africa. The firm will increase the right of iron ore mine to over 20 million tonnes from 7 million tonnes in 2015.Sojitz got the right of 30% for new iron ore mine in west Australia and will start the operation new iron ore mine at 7 million tonnes per year with pellet plant from 2010. Sumitomo additionally gets the right in Assmang, South Africa and increase indirect investment to 7.7%. Sumitomo will expand the business when Assmang increase the production to 16 million tonnes in 2015 from 6 million tonnes.Marubeni is increasing trade volume of iron ore and will get the right of iron ore in the investment of 170 billion yen for 2 years. Itochu increases the right to 12.4 million tonnes in 2012 from 8 million tonnes by such as the expansion of joint business with BHP Billiton and Mitsui in west Australia.Mitsui will increase iron ore right to 50 million tonnes in 2010. The firm invested indirectly in CVRD which aims the production at 450 million tonnes by 2011, and advances joint business with Rio Tinto which increases the production to 320 million tonnes in west Australian business.