Japanese trading houses Itochu Corp ( id="symbol_8001.T_0">8001.T) and Mitsui & Co Ltd ( id="symbol_8031.T8031.T) will invest a combined $1.5 billion in BHP Billiton's ( id="symbol_BHP.AXBHP.AX) Jimblebar iron ore mining hub in Australia, the world's largest miner said on Thursday.
_0">Itochu and Mitsui will invest approximately $800 million and $700 million respectively in shares and loans, representing an 8 percent and a 7 percent interest in the mining hub and resource. The consideration includes a share of costs already incurred by the Jimblebar expansion project.
_1">Itochu and Mitsui, already longstanding BHP partners, hold a combined 15 percent interest in BHP's current Western Australia Iron Ore mine, rail and port infrastructure.
_2">The new Jimblebar mine will have initial production capacity of 35 million metric tonnes per annum and could expand.
(Reporting by Clara Ferreira-Marques; editing by Matthew Lewis)