Iron Ore Project in Brazil
Establishing a Stable Position and a New Business Model in Iron Ore Operations
Through Brazil Japan Iron Ore Corporation, established together with Japanese steel producers, ITOCHU has formed a Japan-Korea-Taiwan consortium in conjunction with major South Korean and Taiwanese steel producers and acquired 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 are among the largest and highest quality mines in the world. Moreover, in addition to mines, CM also holds a stake in railway companies and owns infrastructure such as port facilities. This facilitates the combined management of operations and has positioned CM as an iron ore supplier that enjoys the greatest competitive advantage 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.