TOKYO -- Nippon Steel and trading house Sojitz will purchase a combined 49% stake in a Canadian iron ore mine, the two Japanese companies said Thursday.
Nippon Steel and Sojitz are joining Canadian mining company Champion Iron to develop the Kamistiatusset Iron Ore Project through a joint venture. Champion Iron will be the majority owner of the venture at 51%, while Nippon Steel will hold 30% and Sojitz 19%.
