Our aim is to contribute to iron ore exports to Japan and the rest of the world. Mitsui is an investor in a number of Western Australia's iron ore mines and that investment has been growing in parallel with the iron ore industry in the Pilbara area.
Mitsui & Co. (Australia) Ltd. and Mitsui & Co., Ltd. have been involved in the Robe River Project, which Rio Tinto joins as a major partner, since the project's commencement and hold an effective 33% share of the joint venture. Robe River's production was 54 million tons, while shipments were 52 million tons in FY2006.
The West Angelas iron ore deposit that was developed in 2002 has added another dimension to Robe River's product portfolio. The West Angelas Project has improved Robe's overall competitiveness in the marketplace through enabling Robe to supply not only a high grade iron ore product but also a diversified product base with a significantly high production capacity.
Mitsui holds equity in the Mt. Newman, Yandi, Mt. Goldsworthy and Posmac joint ventures, in which BHP Billiton is a major partner. The annual production level of those joint ventures in FY2006 was 33 million tons, 41 million tons, 3 million tons and 25 million tons respectively. Mitsui is also involved in new joint ventures with BHP Billiton such as the Wheelarra joint venture agreed with 4 Chinese steel mills on September 28, 2004 and the JFE Western 4 joint venture agreed with JFE Corporation, a Japanese major steel mill on July 21, 2005.
Joint venture project managements are committed to achieving a high standard of environmental management. This commitment requires continuous monitoring and rehabilitation of areas disturbed by mining or support activities.
