ITOCHU established the Brazil Japan Iron Ore Corporation together with Japanese steel producers. Through the established company, ITOCHU formed a Japan-Korea-Taiwan consortium including major South Korean and Taiwanese steel producers, acquiring a stake in CSN Mineração. (CM), an iron ore production and sales company under the control of Brazilian steel producer giant Companhia Siderurgica Nacional (CSN).
The Casa de Pedra Mines held by CM is one of the largest and highest quality iron ore producing mines in the world.
In addition to mines, CM holds stakes in a railway company and owns other infrastructures including port facilities. The ownership of infrastructure facilitates and enables the combined management of operations, positioning CM as the most competitive iron ore supplier in the region.
Together with the Japan-Korea-Taiwan consortium and CSN, ITOCHU will contribute to the economic development of Brazil and the establishment of stable resource supply systems by strengthening the management foundations of CM.

ITOCHU acquired, through ITOCHU Minerals & Energy of Australia, a partial interest in AMMC’s iron ore business in Canada, which is owned by steel giants ArcelorMittal, China Steel (Taiwan), and POSCO (Korea).

AMMC produces 25 million tons of iron ore and pellets annually, owns mines, railway, port, and pellet production facilities all in eastern Quebec, Canada, enabling integrated operation. Iron ore from AMMC is high grade with higher iron content and purity and that can be a raw material of direct reduced iron (DRI). As demand for DRI increases, AMMC plans to expand its ability to produce high grade iron ore for producing DRI by enhancing its ore processing facilities.

Amid the increasing demand to address climate change, demand for DRI, which is expected to contribute to low carbon emission steel production, has been increasing rapidly in recent years.
Although there are only a limited number of mines that can provide a long term stable supply of high grade iron ore, the raw material of DRI, ITOCHU aims to contribute to decarbonization of the steel industry together with the partners through the acquisition of the interest in AMMC.