2022-11-24 17:08:53

Nippon Steel eyes more stakes in coking coal mines to secure stable supply

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Channel NewsAsia
By Cna

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TOKYO : Nippon Steel Corp, the world's No.4 steelmaker, is looking to buy more stakes in coking coal mines to secure stable supply of the key steel-making ingredient, its executive said.

Japan's biggest steelmaker already owns stakes in several coking coal mines and iron ore mines, procuring about 20 per cent of the 27 million tonnes of its annual import of coking coal and the 58 million tonnes in iron ore import from those holdings.

It's not necessary to stop at the 20 per cent, Takahiro Mori, executive vice president, told Reuters on Tuesday in an interview.

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