Iron Ore Project in Brazil
Establishing a Strong Position and a New Business Model in Iron Ore Operations
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 Congonhas Minérios S.A. (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.