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News Release

JFE Steel Corporation

JFE Steel Joint Venture to Begin Construction Work on
Byerwen Coal Project in Queensland

TOKYO — JFE Steel Corporation announced today that it has agreed with QCoal Pty Ltd to commence construction work on the Byerwen Coal Project in Queensland, Australia. The agreement came after the Queensland State Government last month granted mining leases to Byerwen Coal Pty Ltd, a joint venture company between JFE Steel and QCoal, to develop two tenements in the project. Early stage development will be carried out with the aim to begin shipping coal in early 2018.

The Byerwen mine, which is located in the north-east of Queensland, is expected to primarily produce hard coking coal, a raw material essential for the production of high-quality coke. The size of the mine and favourable conditions for large-scale open-cut mining will help to ensure a cost-competitive product.

Together with QCoal, JFE Steel will work to develop the mine and provide a stable, long-term supply of coking coal, which is expected to help reduce volatility in the coking coal market.


Byerwen Coal Project

Location: North-east Queensland, Australia
Operating company: Byerwen Coal Pty Ltd (85% QCoal, 15% JFE)
Production plan: Expand annual production to 10mt
Export port: Abbot Point (approximately 190km from the mine)
JFE investment: From December 2009

QCoal Pty Ltd

Head office: Brisbane, Queensland, Australia
Managing Director: Christopher Wallin
Principal business: Mining and mineral exploration


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