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単語数: 155語

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作成日: 2025/02/20 07:00

更新日: 2025/12/08 06:04

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Major Japanese trading house Mitsui &amp; Co. says it will acquire a 40 percent stake in an iron ore project in Australia for 5.3 billion US dollars.
        
                    
                  
The Rhodes Ridge project in Western Australia is one of the world&#039;s largest undeveloped deposits, with 6.8 billion tons of the steelmaking material.
        
                    
                  
Mitsui says the ore is of high purity and production is expected to start by 2030. The mine&#039;s annual output is expected to reach 100 million tons in the future.
        
                    
                  
Global iron ore prices have recently been on a downtrend amid the slowdown in China&#039;s economy.
        
                    
                  
Mitsui &amp; Co. President and CEO Hori Kenichi says, &quot;Iron ore is very cost-competitive, so we would be able to continue development while making a profit, even if there are some swings in market conditions.&quot;
        
                    
                  
Hori said he believes global demand for steel will grow, especially in India and Southeast Asia, and Mitsui aims to be prepared for that.

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