Mitsubishi sells Australian iron ore, rail project to Sinosteel
Share:
MELBOURNE (Reuters) - Mitsubishi Corp has handed over the full ownership of an iron ore expansion and rail and port infrastructure project in Western Australia to China's state-owned Sinosteel that has been slated to cost A$10 billion ($6.86 billion) to develop, the Japanese conglomerate said on Monday.The Japanese trading house divested all of subsidiary Crosslands Resources shares to Sinosteel unit Sinosteel Ocean Capital for an undisclosed sum, according to a statement from Mitsubishi. The..