Mitsui Expands Terrestrial Resource Business

Mitsui & Co.’s mineral & metal resources business unit will expand terrestrial resource business as well as underground mineral resource business. The firm sends staffs dedicated to ferrous scrap business in China while subscribes for public environmental solution projects led by Ministry of Economy, Trade & Industry (METI) or other associations. Mitsui seeks new businesses contributing to low carbon path by effective utilization of terrestrial resources.

Mitsui Bussan Metals, the subsidiary of Mitsui & Co., sends staffs to offshore bases for the first time in ferrous scrap business in fiscal 2010 starting in April. Mitsui Bussan Metals plans to build up distribution network in Asia to follow the expanding ferrous scrap demand.

The demand for terrestrial resources is expected to increase worldwide. Mitsui & Co. aims to expand ferrous scrap trade volume to total 12 million tonnes in fiscal 2015 from 7 million tonnes in fiscal 2009 through the operations of Mitsui Bussan Metals and Sims Metal Management, another subsidiary in Australia.

As to terrestrial resource business, Mitsui & Co. will survey the recycle of used electronic devices in China in fiscal 2010 with assistance of METI. Mitsui Bussan Metals, Sims and Kyoei Recycling are expected to play important roles in eco-solution businesses. In fiscal 2009 Mitsui & Co entered the projects to collect and recover small electric appliances and used cell phones led by METI.