Tokyo, Japan, 1 Sept – Japan’s Nippon Steel Corporation said Wednesday in Tokyo that its coking coal production project in Revuboé, in the central Mozambican province of Tete, will be launched in 2014 and the necessary facilities would be set up in 2012.
In its peak phase, Nippon Steel expects to produce 5 million tons of coal per year.
Cited by financial news agency Reuters, the company’s raw materials director and for Nippon Steel’s machinery procurement sector, Shinichi Fujiwara, said that the company aimed to diversify its sources of raw material for steel production.
“Diversification of our sources of coal is an important strategic issue for us,” said Shinichi Fujiwara.
“We need to consider the geographic risk as well as risk of greater competition from Indian and Chinese buyers, although Queensland (Australia) will continue to be the base for our coal supplies,” he added.
Steel maker Nippon Steel has a partnership with Australian group Talbot and with South Korea’s POSCO in the Revuboé coking coal project. (macauhub)