TOKYO -- Japan's Nippon Steel and JFE Steel announced Thursday that they will invest a total of $1.08 billion in a coal mine owned by Australian coal producer Whitehaven, aiming to secure long-term supplies of high-quality coking coal.
Business deals
Nippon Steel, JFE Steel to invest $1bn in Australian coal mine
Japanese steelmakers want higher quality coking coal to cut CO2 emissions
Nippon Steel and JFE Steel will buy stakes in Whitehaven's Blackwater coal mine in Australia to secure supplies of high-grade coking coal. (Nippon Steel)
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