Nippon Steel Buys 30% Stake In Canada’s Kami Iron Ore Project
Steel

Nippon Steel Buys 30% Stake In Canada’s Kami Iron Ore Project

Japan’s largest steelmaker, Nippon Steel, has acquired a 30 per cent stake in Canada’s Kami iron ore project, forming a joint venture with Australia’s Champion Iron and trading house Sojitz to secure supplies of high-grade ore for direct reduced iron production.
Through its subsidiary NS Canadian Resources, Nippon Steel has paid C$42 million (Rs 2.5 billion) of the total C$150 million (Rs 9 billion) investment, with the remaining C$108 million (Rs 6.5 billion) subject to an additional investment decision based on a feasibility study.
The deal builds on a December agreement in which Nippon Steel and Sojitz purchased a 49 per cent interest in the project from Champion Iron for C$245 million (Rs 14.7 billion). Under the new joint venture, Kami Iron Mine Partnership, the companies will advance the feasibility study for the Newfoundland and Labrador project.
Nippon Steel said the project’s high-grade ore is ideal for producing direct reduced iron, which, together with high-quality scrap, is crucial for operating large electric arc furnaces. The company plans to expand such furnaces to lower carbon emissions as part of its decarbonisation strategy.
Having recently acquired U.S. Steel, Nippon Steel has been strengthening its stakes in coking coal and iron ore mines worldwide to ensure long-term security of critical raw materials. 

Japan’s largest steelmaker, Nippon Steel, has acquired a 30 per cent stake in Canada’s Kami iron ore project, forming a joint venture with Australia’s Champion Iron and trading house Sojitz to secure supplies of high-grade ore for direct reduced iron production.Through its subsidiary NS Canadian Resources, Nippon Steel has paid C$42 million (Rs 2.5 billion) of the total C$150 million (Rs 9 billion) investment, with the remaining C$108 million (Rs 6.5 billion) subject to an additional investment decision based on a feasibility study.The deal builds on a December agreement in which Nippon Steel and Sojitz purchased a 49 per cent interest in the project from Champion Iron for C$245 million (Rs 14.7 billion). Under the new joint venture, Kami Iron Mine Partnership, the companies will advance the feasibility study for the Newfoundland and Labrador project.Nippon Steel said the project’s high-grade ore is ideal for producing direct reduced iron, which, together with high-quality scrap, is crucial for operating large electric arc furnaces. The company plans to expand such furnaces to lower carbon emissions as part of its decarbonisation strategy.Having recently acquired U.S. Steel, Nippon Steel has been strengthening its stakes in coking coal and iron ore mines worldwide to ensure long-term security of critical raw materials. 

Next Story
Infrastructure Urban

Indian REITs Association Joins Global REIT Alliance

The Indian REITs Association (IRA) has become a member of the Global REIT Alliance, a coalition representing the global Real Estate Investment Trust (REIT) sector. The alliance, launched at the European Public Real Estate Association’s 2025 ReThink conference in Stockholm, aims to promote cross-border cooperation, policy dialogue, and market standardisation for the growth of REITs as an investment asset class.The Global REIT Alliance, which includes members from 24 countries, focuses on promoting global awareness of securitised real estate, supporting sustainable investment, providing indust..

Next Story
Infrastructure Transport

Vande Bharat May Soon Connect Chennai and Rameswaram

Southern Railway plans to introduce a Vande Bharat Express between Chennai and Rameswaram following the completion of electrification on the 53-km Ramanathapuram–Rameswaram section.A proposal has been submitted to the Railway Board to operate the new daytime service from either Chennai Egmore or Tambaram, aiming to ease congestion on existing overnight trains along the 600–660 km route.Officials noted that while the section is cleared for electric locomotives, a 220-metre gap near Uchipuli will undergo trials before the Vande Bharat is introduced. The final route will consider travel time,..

Next Story
Infrastructure Transport

RITES Partners with Etihad Rail to Boost Infrastructure Collaboration

RITES, a leading transport infrastructure consultancy and engineering firm, has signed a Memorandum of Understanding (MoU) with UAE-based Etihad Rail to enhance business collaboration with its subsidiary, National Infrastructure Construction Company (NICC).The partnership aims to combine RITES’ five decades of expertise in consultancy, transport infrastructure, and engineering with NICC’s execution capabilities, creating synergies for infrastructure projects across the UAE and other regions.The MoU was signed by HE Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Di..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?