Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Boeing Acquisition of Spirit AeroSystems Could Close Soon Amid Ongoing Conditions 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Lockheed Martin Secures $1.14 Billion Contract Boost for F-35 Production 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Visa to Move European Headquarters to London’s Canary Wharf 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Japanese trading giant Mitsui has announced a $5.34 billion acquisition of a 40% stake in the Rhodes Ridge iron ore project in Australia. Operated by Rio Tinto (NYSE:RIO), Rhodes Ridge is among the world’s largest untapped iron ore deposits, with estimated mineral resources of 6.8 billion tons.
Mitsui expects production to begin by 2030, with an initial output of 16 million tons annually from its stake. Over time, production is projected to exceed 40 million tons as operations expand. In the financial year ending March 2024, Mitsui's equity share of iron ore production stood at 61 million tons.
This strategic investment strengthens Mitsui’s global mining portfolio and enhances its position in the iron ore market. The Rhodes Ridge project aligns with Mitsui’s long-term growth strategy, ensuring a stable supply of high-quality iron ore. With increasing global demand for steel, this acquisition reinforces Mitsui’s commitment to securing essential raw materials.
As Rio Tinto advances the project, Mitsui’s involvement is expected to accelerate development, leveraging its expertise in resource management and supply chain operations. The deal underscores Japan’s continued investment in securing key commodities to support industrial growth.
Mitsui’s stake in Rhodes Ridge positions the company for significant long-term returns, reinforcing its role as a major player in the global iron ore sector.
