August 30, 2008

Sojitz Corp to expand mineral resource investment

JMB reported that Sojitz Corporation's mineral resources unit plans to expand its business through JPY 60 billion of investment through fiscal 2008 ending March 2009.

As per report the unit plans iron ore development in Australia and coal interests purchase in Australia and Indonesia along with expansion for alumina business in Australia.

The unit also expands rare metal business and tries to acquire interest for base metals.

Through the investment, the unit targets more than JPY 15 billion of recurring profit even when resources price experiences major drop.