Mitsui & Co., Ltd. (“Mitsui”, President and CEO: Kenichi Hori) has decided to invest in the development of three new deposits at West Angelas iron ore mine owned by Robe River Joint Venture (“Robe River J/V”), which is jointly owned by Mitsui, major resource company Rio Tinto and Nippon Steel to maintain its production capacity. The development is expected to cost A$998million in total (approximately 94.8billion yen), of which Mitsui will invest A$329million (approximately 31.3billion yen). The project has now received the major necessary approvals, and the first production is scheduled to commence in 2027.
Robe River J/V began shipments in 1972 and has since played a key role in stabilizing Mitsui’s long-term earnings base as one of its core businesses. The new deposits will maintain West Angelas’s annual production capacity of 35million tons (of which Mitsui has approximately 12million tons) for years to come. This project will leverage existing facilities, railways and port infrastructure, minimizing development costs maintaining the cost competitiveness of the existing operations.
Global demand for crude steel is expected to continue increasing, driven by further growth in Asia. Mitsui’s annual equity share of iron ore production for FY March 2025 was approximately 62million tons. With the participation in the Rhodes Ridge iron ore project, Mitsui aims to expand its annual equity production to more than 100million tons in the future. The development of new deposits at the West Angelas iron ore mine forms part of Mitsui’s broader strategy to further strengthen the long-term earnings base of our core businesses. Mitsui remains committed to contributing to the stable supply of essential mineral and metal resources for society.
Company Profile
| Name | Robe River Joint Venture | |
|---|---|---|
| First Shipment | 1972 (Operations at West Angelas commenced in 2002) | |
| Interest Ratio | Rio Tinto | 53% |
| Mitsui | 33% | |
| Nippon Steel | 14% | |
| Development Schedule of New Deposits | Development Start: October 2025 First Production: 2027 |
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Locations of iron ore mine owned by Robe River Joint Venture
West Angelas mine
Mitsui’s Materiality
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified six material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Establish a foundation for sustainable and stable supply” and “Foster a well-being society”
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Establish a foundation for sustainable and stable supply
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Create a community coexisting with nature
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Foster a well-being society
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Cultivate societies that respect human rights
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Empower our people to build brighter futures
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Build an organization with integrity