TOKYO -- Nippon Steel will invest in Canadian mining company Teck Resources' coking coal business, aiming to procure high-quality coal for a steelmaking process that limits the environmental impact.
Nippon Steel will pay around 1.15 billion Canadian dollars ($850 million) to acquire a 10% stake in Elk Valley Resources, which will be spun off from Teck as a coking coal business operator and listed on the Toronto Stock Exchange.
