Mitsubishi to acquire a 30% stake in Aurukun Bauxite Project from Glencore.

Mitsubishi, a multinational industrial conglomerate, agreed to acquire a 30% stake in Aurukun Bauxite Project, an Australian bauxite mine, from Glencore, a mining firm. Financial terms were not disclosed. Through the acquisition and development of the Project together with other business activities, Mitsubishi will continuously secure competitive assets that contribute to a stable, global supply of a resource, and also to strive for sustainable growth by simultaneously generating economic, societal, and environmental values.