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Business deals

Nippon Steel to buy 2 Thai electric steelmakers to cut footprint

G Steel, GJ Steel targeted to reduce dependence on coal blast furnaces

Nippon Steel wants to reduce its reliance on coal to produce steel.   © Reuters

TOKYO -- Nippon Steel is set to acquire two electric-furnace steelmakers in Thailand, G Steel and GJ Steel, next year, Nikkei has learned, in a move aimed at reducing its reliance on coal to produce the metal.

Nippon Steel has traditionally used blast furnaces to produce steel. The process involves heating iron ore with coke, a coal-based fuel, to remove the oxygen in the ore to extract iron. This is suitable for mass production but also emits vast amounts of carbon dioxide.

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