Yandi is a large 80Mtpa open-cut iron ore mining operation in Australia. It is located approximately 310 kilometres by rail from Port Hedland, Western Australia. BHP Billiton has an 85% interest in Yandi, with foundation partners Itochu and Mitsui, owning 8% and 7% respectively. It is BHP Billiton's lowest cost iron ore mine owing to its very low strip ratio and relatively easy mining conditions. However, it produces a low grade fines product so the low mining cost is somewhat offset by the discounted price it receives.