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Mitsui & Co., Ltd. ("Mitsui" Head Office: Tokyo, President and CEO: Masami Iijima), through Robe River JV (Rio Tinto 53%, Mitsui 33%, Nippon Steel & Sumitomo Metal Corporation 14%), has completed the first phase expansion at Cape Lambert which will bring its iron ore export capacity from 86 million tons to 139 million tons per year. The ramp-up schedule is on track to reach a full run-rate in the first half of calendar year 2014.
Phase two expansion at Cape Lambert to 209 million tons per year is underway.
Mitsui will work to increase the iron ore supply through the Robe River J/V in response to the expected increase in global demand over the medium to long term.
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.