5 Biggest Iron Ore Mining Companies in Australia, 2024

3. ITOCHU Corporation 

Market Capitalization: $62.32 billion

ITOCHU Corporation and its arm ITOCHU Minerals & Energy of Australia Pty Ltd, teaming up with BHP in Western Australia, run some serious iron ore action. Things are heating up as Itochu decided to boost its net profit forecast for the year ending in March 2024 by a cool $2.77 billion, reaching a total of $5.4 billion. This move comes after a dip in half-year net profit to $57.13 billion due to lower coal and iron ore prices. Looks like they’re playing the long game and making strategic moves to stay on top!

ITOCHU Corporation, and its subsidiary, ITOCHU Minerals & Energy of Australia Pty Ltd, got together with BHP in Western Australia, playing a serious iron ore game. With this, things look to be sky-rocketing, as ITOCHU forecasts its net profit, for the year ending in March 2024, to surge by a cool $2.77 billion, hitting $5.4 billion in total.