Conclusion of Iron Ore Purchasing Contract with MMTC Limited of India

Dec. 04, 2015

Nippon Steel & Sumitomo Metal Corporation

Conclusion of Iron Ore Purchasing Contract with MMTC Limited of India

Nippon Steel & Sumitomo Metal Corporation (location: Chiyoda-ku, Tokyo; President: Kosei Shindo; hereinafter referred to as "The Company") has concluded a contract with MMTC Limited, a public corporation in India that sells iron ore, to purchase 1.8 to 2.6 million tons of iron ore per year for a span of 3 years.
With regard to MMTC iron ore, a long-term contractual relationship has continued for over half a century. For this contract as well, with support from the governments of Japan and India, the continuation of a ceiling of 3 years, with 3 to 4.3 million tons per year, for MMTC iron ore exports to Japan was approved at an Indian cabinet meeting in June of this year. As the result of earnest negotiations by The Company based upon this, the contract was agreed to and signed in Delhi, India on November 18.
Through this purchasing contract for MMTC iron ore, The Company will continue its favorable relationship with India in the future, and will strive to realize the stable procurement of iron ore.


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