Mitsui & Co., Ltd. ("Mitsui") (Head Office: Tokyo, Japan, President and CEO: Masami Iijima), approved today the investment of A$ 1.25 billion through its 100% subsidiary Mitsui Iron Ore Development Pty. Ltd. for the expansion of iron ore export capacity at Cape Lambert (also known as Port Walcott), owned by Robe River J/V (Rio Tinto 53%, Mitsui 33%, Others 14%) in the Pilbara region of Western Australia, from its current nameplate capacity of 80 million tons to 133 million tons per annum.
The investment is expected to total A$ 3.78 billion and J/V participants will share the cost pro-rata based on each shareholder's ratio. Completion of the expansion is scheduled by the end of 2013 calendar year.
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.