Mitsui in JV to bring circularity to mining tire industry

TOKYO—Japanese trading and investment company Mitsui & Co. Ltd. has signed a basic agreement with Canadian tire distributor Kal Tire for the establishment of a joint venture to recycle mining tires.

In a statement Sept. 13, the Tokyo-based company said the proposed business will recycle end-on-life mining tires using thermal conversion technology to produce recovered carbon black, oil and steel.

As part of the deal, the two companies will collaborate to commercialize a recycling plant that is currently being operated by Kal Tire in Chile, aiming to start large-scale operation by the beginning of 2023.

Furthermore, Mitsui and Kal Tire plan to expand the mining tire recycling business globally with the aim to establish operations in mining regions such as North America, South America, Australia and Africa.

Through this project, Mitsui said it aimed to contribute to environmental solutions and the realization of a circular economy in the mining and tire industries.

Active in the mining business since the 1960s, Mitsui is a global trading and investment company with a business portfolio covering the mineral and metal resources, energy, machinery and infrastructure, and chemicals industries.

Based in Vernon, British Columbia, Kal Tire is an independent tire dealer and is claimed to be "one of North America's largest commercial tire dealers."

Kal Tire's Mining Tire Group provides mining tire service and supply, operating on more than 150 mine sites across five continents.

The company owns and operates six OTR retreading facilities in Canada, the United Kingdom, West Africa, Chile and Mexico.