Sojitz Corp., Itochu Corp. to partner 30.8b yen in BHP’s WA alumina refinery

Japanese traders Sojitz Corp. and Itochu Corp. announced recently that they would partner in expanding Worsley Alumina joint venture in Western Australia for 30.8 billion yen. The operation, 86%-owned by BHP Billiton Ltd, is 9 percent owned by Sojitz and 5 percent owned by Itochu. It has integrated production operations including bauxite mining. The venture’s annual capacity of alumina will rise 30% to 4.6 million tons by the fall of 2012 from the current 3.5 million tons. The 220 billion yen project, 19.8 billion yen and 11 billion yen from Sojitz and Itochu respectively, includes expansion in bauxite production and will meet Japan’s annual demand for ingot imports. Sojitz's and Itochu's shares of the supplies will come to 414,000 tons and 230,000 tons, exporting to South Africa, the Middle East and China and then import aluminum ingots to Japan. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.