Nippon Steel signs agreement to acquire stake in Canada’s Kami iron ore project

Japan’s Nippon Steel Corporation has signed a master agreement with Champion Iron (CI) and trading house Sojitz Corporation to buy a stake in the Kamistiatusset (Kami) iron ore project in Newfoundland and Labrador, Canada. The Kami project, owned by CI, produces high-grade direct reduced (DR) iron ore, a rare resource worldwide that is especially suitable for producing direct reduced iron (DRI). The mine is under consideration for new development, and to progress a feasibility study toward its developmen ...