News Articles for Mitsui & Co

Beach Energy chair Ryan Stokes says his company is ready to put the disappointment of a blown out Waitsia project behind it, as it prepares for the project to enter production.

Beach Energy and Mitsui's Waitsia stage two gas plant is finally ready for start up, more than four years since construction officially started on the contentious Perth Basin project.

Kerry Stokes-backed Beach Energy says gas production is finally imminent at its Waitsia plant in the Mid West, as it continues to profit from an export agreement with the state.

Japanese investors Mitsui and Itochu have each acquired a stake in BHP's Ministers North iron ore deposit in the Pilbara, keeping with their investments in the Big Australian's assets.

Kerry Stokes' warning the Pilbara would "not exist" if current laws existed in the 1960s has been batted away by resources and political leaders at the billionaires' own industry event.

The scrapping of four major hydrogen projects with links to WA late last month sent shockwaves through a flailing sector, but work is ongoing.

Shares in Beach Energy have fallen sharply after the company flagged a large impairment related to lower commodity prices and a downgrade of gas reserves at a Perth Basin project.

Iron ore-focused Fenix Resources has announced it has elected not to exercise a matching right in relation to its bid for CZR Resources.

Fenix Resources is yet to decide whether it will match a bid for Mark Creasy's CZR Resources before Easter, as it navigates a three-way bidding war for the Robe Mesa iron ore project.

Despite a bearish recent outlook for the iron ore sector, money is still being put on the table for WA's biggest industry.

Mitsui's new stake in Rio Tinto's Rhodes Ridge iron ore project has unlocked $10 billion in wealth for the heirs of Peter Wright, pushing Angela Bennett into fifth on our Rich List.

Japanese trading house Mitsui & Co will take a US$5.3 billion stake in Rio Tinto's 6.8 billion tonne Rhodes Ridge iron ore project in the Pilbara.

Four major M&A deals last year highlighted Japan's continued appetite for WA investments.

A bushfire in the Mid West temporarily delayed work at Beach Energy and Mitsui & Co's Waitsia stage two gas plant in December, while first sales are now expected in the June quarter.

The near-term supply outlook for Western Australia's domestic gas market has improved this year, but 2028 looms as a critical juncture in the state's energy future.

It has been a long time since big investors started spruiking plans for new salt projects in the north-west.

The state government has unveiled its first action plan for carbon capture and storage in Western Australia, including investing $26 million towards two projects.

Beach Energy chair Ryan Stokes has called out “ideological rhetoric” against oil and gas proponents, as the company inches toward production at the troubled Waitsia plant.

Just one major resources project has been sanctioned in WA this year and the pipeline of future projects is thin, a review by Business News has found.

Premier Roger Cook has conceded not all businesses will be happy with his government's decision to ease gas export restrictions, but insists it is the right move for the state.

Carbon capture and storage could generate more than $80 billion for the state economy over 20 years, according to new analysis funded by the Chamber of Commerce and Industry WA.

Kerry Stokes-backed Beach Energy is on track to deliver long-awaited first production from the second stage of its Waitsia stage two project in early 2025.

The gap between contractor and company delivery deadlines is closing at the Waitsia gas project in the Perth Basin, but Beach Energy says the long-awaited development remains on track for production in early 2025.

Driven by hungry investment banks and 160 years of trade history, Japan's cultural and financial muscle is embedded in many WA industries.

The alliance representing the state's largest domestic gas users is ramping up its campaign to keep onshore gas in WA, as the premier's stance on the issue appears to be wavering.

Beach Energy and Mitsui & Co's Waitsia stage two gas project will not produce this year and will cost hundreds of millions more than previously expected as a result of quality issues.

A year's a long time in the oil and gas business and plenty can change during that period.

What made share prices rise in 2023? Bulls N' Bears will take a look in the next few days, starting with Ardea Resources. Its stock jumped 162 per cent in a busy four days during the middle of last year on the back of a mineral resource upgrade and a mammoth prefeasibility study for its Goongarrie Hub nickel-cobalt deposits in Western Australia's Goldfields region.

Woodside Energy has joined other global players in signing the oil and gas decarbonation charter at the COP28 summit in the United Arab Emirates.

Premier Roger Cook has backed Woodside's controversial Scarborough and Browse projects as part of the regional solution to Asia's “acute anxieties” around energy supply.

Premier Roger Cook will meet with companies including Mitsui & Co on the first day of his mission to Japan, as the government looks to sell its vision for the state's renewable sector.

International energy company ATCO has scrapped plans to build what had been promoted as one of Western Australia's first commercial-scale green hydrogen projects.

Ardea Resources has signed a memorandum of understanding with a Japanese consortium to develop a sub-set of its Kalgoorlie nickel project after tabling a price tag of $3.18 billion.

WA produces a diverse array of minerals, yet one commodity dominates the sector.

Cost pressures have led Beach Energy and Mitsui & Co to withdraw schedule and capital estimates for the stage two development of the Waitsia gas project.

The pipeline of big resources projects in WA increasingly features complex processing plants, despite a spate of large cost blowouts on projects currently under way.

Billions of dollars of investment could be in the pipeline for Perth Basin as the state faces a crippling gas shortage within a decade.

Costs to develop Beach Energy and Mitsui & Co's Waitsia gas project could climb to $850 million, as Webuild prepares to take over the old Clough contract.

UPDATE: Details of the deal between Italy's Webuild and the collapsed Perth engineer have been released at close of business this afternoon.

Gina Rinehart's Hancock Prospecting has lifted its stake in Perth Basin gas play Warrego Energy to 25.9 per cent as a stand-off looms with rival bidder Strike Energy.