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Mitsui & Co., Ltd ("Mitsui", Head Office: Tokyo, President and CEO: Masami Iijima) announced today that the production from the new mining area ("Project" or otherwise known as Kestrel Mine Extension) owned by Kestrel Joint Venture (Kestrel J/V: Rio Tinto 80%, Mitsui 20%) in Queensland, Australia has commenced.
The Kestrel Mine commenced operation in 1992 and at present it produces approximately 4 million tons per annum (Mtpa) of high quality coking coal. Due to start of production from the new mining area, the average production for the entire mine over the remaining 20 year operating period of the Project is estimated to be approximately 5.7 Mtpa.
Mitsui has positioned coal business as one of its core activities in the area of mineral resources and energy. Mitsui aims to expand its equity coal production and contribute to stable supply of coal in order to meet the increasing global demand.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement 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.