We have acted as the leader of a consortium of Japanese and Korean companies in the iron ore field to obtain large interests in Brazilian iron ore by taking an equity position in NAMISA (Nacional Minerios S.A.), an iron ore producer and distributor affiliated with the major Brazilian steel producer CSN (Companhia Siderurgica Nacional). In cooperation with resources giant BHP-Billiton, we are operating Mount Newman and several other iron ore mining joint ventures in Australia with annual production output reaching 140 million tons. Production of iron ore is stable in both Brazil and Australia, and we are actively driving expansion plans for production to further reinforce the supply capacity.
In the nonferrous field, we are developing Worsley Alumina Pty. Ltd. (Australia) in cooperation with BHP-Billiton. The business provides the full range from mining bauxite to refining alumina, and supplies alumina to aluminum refineries worldwide. We are also moving forward with exploration activities for nickel and platinum in North America and we are proactive about initiatives where we take part in planning from the exploration stages. Moreover, in Australia where the focus lies on developing metal resources, all Australian resource development interests including iron ore, coal, alumina and crude oil are held by ITOCHU Mineral & Energy of Australia Pty. Ltd., which is promoting business expansion in Australia.