Nippon Steel and JFE Steel have jointly acquired a 30% stake in the Blackwater coal mine in Australia from Whitehaven Coal Limited. This investment, valued at $1.08 billion, will secure a long-term supply of high-quality coking coal for the Japanese steelmakers amid tightening supply and growing competition from other regions.
The acquisition also aligns with their efforts to diversify their coal sourcing and reduce reliance on domestic suppliers.
