Japanese giant Mitsubishi Corporation could be the latest overseas predator to take control of an Australian mining company, an analyst says.

DJ Carmichael resource analyst James Wilson said he thought Mitsubishi would make a bid for equal joint venture partner Murchison Metals, which together will build the $3.5 billion Oakajee deepwater port and associated rail infrastructure in the State’s Mid West.

However, Mr Wilson says Mitsubishi would have to woo major shareholders with a hefty offer.

Mr Wilson said Murchison's largest shareholders, US hedge fund Harbinger Capital and Korean steel making giant POSCO, would be hard to convince.

Mitsubishi Development Pty Ltd vice-president iron ore division Saburo Takeuchi said today that the company could increase its 50 per cent interest in Murchison's infrastructure arm, Oakajee Port & Rail (OPR), and its Jack Hills mine in the mid-west.

The comments come almost three weeks after Chinese state-owned steel maker Sinosteel Corporation took control of Midwest Corporation Ltd, scuppering Murchison's plans to merge with its fellow iron ore miner.

There has been widespread speculation in recent months that Sinosteel would launch a takeover bid for Murchison, upping its stake from 2.4 per cent.

Mr Takeuchi said he did not know what Sinosteel's intentions were.

He said Mitsubishi “would always be interested in having more economic interest borne out of commercial negotiations with Murchison”.

“Having said that, we are very comfortable with the relationship with Murchison,” he told a media teleconference.

Murchison managing director Trevor Matthews said the iron ore miner would consider selling its stake in OPR once the new infrastructure is commissioned.

“As a listed company and as a board, you obviously have obligations to try and maximise return to shareholders and if, perhaps, the option of divesting ourselves of infrastructure in the future looks like it makes sense, that's something that the company has to consider,” Mr Matthews said.

Investors responded positively to the speculation, sending the iron ore junior up 7c, or 2.37 per cent, to $3.02. – Associated Press