Nippon Steel Acquires Interests in Foxleigh Coal Mine in Australia

Nippon Steel Corporation (Location: Chiyoda-ku, Tokyo; President: Shoji Muneoka; “Nippon Steel”) announces today that it has acquired, from ITOCHU Corporation (Location: Minato-ku, Tokyo; President: Masahiro Okafuji; “ITOCHU”), the whole of 10% interests in the Foxleigh Coal Mine joint venture (“JV”) in Queensland, Australia, held through its Australian subsidiary.

The Foxleigh Coal Mine began operation in 2000, and currently produces about 2.5 million tonnes per annum of high-quality metallurgical coal for PCI (pulverized coal injection for blast furnace operation). This JV, until now, has been operated by the respective subsidiaries of the global resources company Anglo American, the Korean steel company POSCO, and ITOCHU. Nippon Steel’s acquisition of interests has been conducted by its consolidated subsidiary, Nippon Steel Australia Pty. Ltd. (hereinafter “NSA”), which has purchased said interests from ITOCHU’s Australian subsidiary.

This acquisition of interests in the Foxleigh Coal Mine JV, which is Nippon Steel’s first secured interests in high quality PCI coal, will not only contribute to the further stability in our raw materials procurement in the future, but will also strengthen the company’s business base as a global player through closer ties with Anglo American and further enhancement of strategic alliance relationship with POSCO.


Outline of Foxleigh Coal Mine JV
1. Composition of Interests
　　Nippon Steel　　　10%
　　Anglo American　　70%
　　POSCO　　　　　　 20%
　 　　　(all via subsidiaries)
2. Production quantity
　　　2.5 million tonnes per annum（metallurgical coal for PCI）


For inquiries:
Public Relations Center, General administration Div., Nippon Steel
Tel: +81 3 6867 2135, 2146, 2147