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Article: JAPAN COS JOIN SWISS FIRM TO CREATE NEW AUSTRALIAN MINING AREA.
- Article from:
- AsiaPulse News
- Article date:
- September 1, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Sept 1 Asia Pulse - Nippon Steel Corp. (TSE:5401) and Nippon Oil Corp. (TSE:5001) said Thursday that they will develop a new mining area at an existing coal mine in Australia in a joint effort with major Swiss mining firm Xstrata Plc and others.
Total investment in the project is estimated at 30 billion yen (US$256.61 million), and shipments of coking coal produced from the new mining area are slated to begin in 2009.
The new mining area will be at the Bulga coal mine in the state of New South Wales, in the southeastern part of the country. It will be developed jointly by a local subsidiary of Nippon Steel and a mining company whose owners include ...