Thursday, 03 Mar 2011, The Nikkei
Nikkei reported that Nippon Steel Corpand JFE Steel Corp said that they will purchase additional rights to an Australian coking coal project from Toyota Tsusho Corp.
By May, Toyota Tsusho will unload 13% of its rights, selling 2.35% each to Nippon Steel, the JFE Holdings Inc unit and POSCO. Their interests will swell to 5.95%.
The remaining 5.95% will be bought by Chubu Electric Power Co since the mine also produces regular coal for use in power generation.
The Integra Coal Joint Venture, located in the state of New South Wales, produces 3.3 million tonnes of coking and other coal annually and is expected to continue supplying the materials for another 20 years.
Brazilian resource major Vale SA holds a 61.2% interest, followed by Toyota Tsusho with 28%. Nippon Steel, JFE Steel and South Korea's POSCO each own 3.6%.
By May, Toyota Tsusho will unload 13% of its rights, selling 2.35% each to Nippon Steel, the JFE Holdings Inc unit and POSCO. Their interests will swell to 5.95%.
The remaining 5.95% will be bought by Chubu Electric Power Co since the mine also produces regular coal for use in power generation.
The Integra Coal Joint Venture, located in the state of New South Wales, produces 3.3 million tonnes of coking and other coal annually and is expected to continue supplying the materials for another 20 years.
Brazilian resource major Vale SA holds a 61.2% interest, followed by Toyota Tsusho with 28%. Nippon Steel, JFE Steel and South Korea's POSCO each own 3.6%.
Tags :New South Wales, Japanease market, raw material, Posco steel, Vale SA,
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