JFE Steel Corporation announced today that it has completed its acquisition of a 10% interest in the Blackwater coal mine owned by Whitehaven Coal Limited, an Australian supplier of coking coal. The acquisition was made through JFE Steel’s wholly owned subsidiary, JFE Steel Australia Resources.

Going forward, JFE Steel will participate in decision-making regarding operation of the coal mine, and will also procure stable supplies of high-quality coking coal from the mine under a long-term off-take agreement.

JFE Steel is committed to achieving sustainable long-term growth in the rapidly changing world, including through the stable, long-term procurement of steelmaking raw materials essential to the operation of the company’s steel business.

Related release (August 22, 2024): https://www.jfe-steel.co.jp/en/release/2024/08/240822.html

About JFE Steel Corporation

JFE Steel Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. Under the corporate vision of “contributing to society with the world’s most innovative technology,” JFE Steel leverages world-class technologies and know-how to produce a wide range of products. The company reported consolidated sales of 3,716 billion yen and consolidated crude steel output of 24.80 million tons in the fiscal year ended March 2023.

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