Core Viewpoint - Nippon Steel has acquired a 30% stake in Canada's Kami iron ore project to secure high-grade ore supplies for direct reduced iron production [1][2][3] Group 1: Investment Details - Nippon Steel paid C$42 million ($30.2 million) for its stake, with a total project consideration of C$150 million [1] - The remaining C$108 million will be contingent on a further investment decision following a feasibility study [1][2] - The joint venture, named Kami Iron Mine Partnership, will conduct a feasibility study for the project located in Newfoundland and Labrador [2] Group 2: Strategic Importance - The iron ore from the Kami project is characterized as a high-grade, scarce resource suitable for producing direct reduced iron [2] - Direct reduced iron is essential for producing high-grade steel using large electric arc furnaces, which Nippon Steel plans to build to lower carbon emissions [3] - Nippon Steel has been actively expanding its investments in coking coal and iron ore mines to ensure a stable supply of critical raw materials [3]