Mitsui & Co. announced on Tuesday the firm and world’s largest coal company, Shenhua Group Corporation in China agreed to comprehensive business alliance on Friday. Mitsui and Shenhua plan to reinforce benefit through the collaboration in energy, coal chemical business and coalmines development.
Mitsui and Shenhua plans to launch joint development of overseas coal mines including Taban Tolgoi in Mongolia, where there are abundant coal reserves. Mitsui has developed various cooperation works with Vale of Brazil from the start in iron ore area. As such relationship with Vale, Mitsui aims to reinforce relationship with Shenhua in future. Mitsui is affiliated with major mining companies in development of overseas coal mines including Anglo American, BHP Billiton, Mechel and OPK. Shenhua’s coal production is 330 million tonnes per year and the firm has 26 operating subsidiaries including coal, power, railway, port and coal chemicals.Japan Steel Scrap Composite Prices (Sangyo Press)
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