Steel Producer JFE Steel Corp To Invest 50 Billion Yen at Coal Mines In Queensland, Australia
December 24th, 2009 | File Under : Coal - Mine Trade & Market - Mining Investment - Mining Production - mining companies
JFE Steel Corp. Is the largest steel manufacturer in Japan is planning investments worth 50 billion yen in the coal mines owned Qcoal Pty.. Coal mines located in Queensland, Australia. JFE Steel Investment in this coal mine will provide the right shares by 20 percent.
Investments made by JFE Steel in order to secure the needs of coking coal and iron ore, because the competition is expected to acquire coking coal and supplies of iron ore next year.
Long-term contracts will be signed to secure coking coal supplies for 2 million metric tons of coal each year. Coal production comes from coal mines Byerwen. Byerwen coal mine which will start operating in 2012, and is expected to produce 10 million tons of coal per year, according to a statement today JFE.
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