Mitsui & Co Ltd. (8031.TO) said Wednesday it has decided to invest an additional $340 million, or Y27 billion, to boost the iron ore production capacity at its joint venture with BHP Billiton Ltd. (BHP) in Australia.

The Tokyo-based company said the joint venture with BHP Billiton and Japanese trading house Itochu Corp. (8001.TO) plans to boost capacity at its Yandi iron ore mine in western Australia. The joint venture will also build iron ore loading facilities at a port and develop another iron ore mine in the area.

-By Hiroyuki Kachi, Dow Jones Newswires; 813-6269-2789; Hiroyuki.Kachi@dowjones.com
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