Japanese Trading Cos. Invest $1.5B In BHP Iron Ore Mine

Law360, New York (June 21, 2013, 3:03 PM EDT) -- Japanese trading companies Itochu Corp. and Mitsui & Co. Ltd. have agreed to invest a combined $1.5 billion in BHP Billiton's Jimblebar iron ore mine in western Australia, the parties announced Friday.

Itochu and Mitsui — both of which have had previous financial relationships with BHP, the world's largest mining company — will invest $800 million and $700 million, respectively.

The investments will come in the form of shares of the Jimblebar project as well as loans, representing an 8 and 7 percent interest in Jimblebar...
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