Mitsui & Co. to Buy 40% Interest in Australia's Iron Ore Project for $5.34 Billion

Dow Jones

02-19

By Kosaku Narioka

Mitsui & Co. said it would acquire a 40% interest in Rhodes Ridge iron ore project in Australia for $5.34 billion.

The Japanese trading house said Wednesday that the Rhodes Ridge project will be developed and operated by Rio Tinto.

Production is expected to start by 2030, Mitsui said.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

February 18, 2025 22:56 ET (03:56 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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