23
Mar
00:00
NSSMC buys into Australian coal mine
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) has agreed to buy a 10% stake in Australia’s Boggabri coal mine, the company says. The investment will give it access to both coking and thermal coal when the mine completes its expansion plans later this year, Kallanish notes.
NSSMC will buy 10% from Idemitsu Kosan subsidiary Boggabri Coal, which retains 80% control. The remaining 10% is owned by Chugoku Electric Power Australia.
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