Japan's Mitsui, Itochu to acquire interests in BHP's iron ore deposit

Japanese trader Mitsui & Co has agreed with Australian miner BHP to acquire an indirect 7% interest in the latter's wholly owned Ministers North iron ore deposit in Australia, according to the company's latest news release on Tuesday.

Itochu Corporation, another Japanese trader, has also inked purchasing deals with BHP for an indirect 8% interest in Ministers North, the news release noted. This means that after the fulfillment of the transactions, BHP, Mitsui and Itochu will hold stakes of 85%, 7% and 8% in the Ministers North