2021-03-18
The deal marks Mitsubishi's first investment in the mining of bauxite, a raw material of aluminium, the trading company said in a statement.
The project is an undeveloped bauxite mine in Queensland, with Glencore assessing the feasibility of developing the mine.
Mitsubishi aims to reach a final investment decision on mine development during 2022, utilising its expertise in the mining business in Australia and working with Glencore to conclude the feasibility studies.
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