JFE Steel Corp. Is the largest steel producers in Japan plans to invest 50 billion yen in the coal mine owned Qcoal Pty.. Coal mines located in Queensland, Australia. JFE Steel Investment in the coal mine will provide the right stock by 20 percent.
Investments made by JFE Steel in order to secure coking coal and iron ore, because the competition is expected to obtain supplies of coking coal and 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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