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Mitsui & Co ( (JP:8031) ) just unveiled an update.
Mitsui & Co., Ltd. has announced the acquisition of a 40% interest in the Rhodes Ridge iron ore project in Australia for a total of 5,342 million USD. This acquisition will enhance Mitsui’s long-term earnings and strengthen its position in the iron ore industry, with expected synergies from its existing projects and infrastructure in the region. The project is anticipated to contribute to the economic development of Asian countries, with production starting by 2030. The financial impact on Mitsui’s results for FY March 2025 is expected to be minor.
More about Mitsui & Co
Mitsui & Co., Ltd., headquartered in Tokyo, is a diversified trading company engaged in various industries, including iron ore and other essential resources. The company has a significant presence in the iron ore sector, particularly in Australia, where it has been active since the 1960s, focusing on the stable supply of resources and infrastructure solutions.
YTD Price Performance: -23.82%
Average Trading Volume: 8,576
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $53.54B
See more insights into 8031 stock on TipRanks’ Stock Analysis page.
