Cliffs and Kobe Steel consider iron ore joint venture

Thursday, 01 September 2011 02:05:51 (GMT+2)   -  

Tags: iron ore , raw mat , USA , Japan , Far East , North America , investments , M&A , mining , Cliffs Natural , Kobe Steel , East Asia and Pacific | similar articles » SteelOrbis News

Japan's Kobe Steel Ltd. and Cleveland, Ohio-based mining company Cliffs Natural Resources are in talks to build an iron nugget plant in the US, possibly in the state of Michigan, according to a report in the Japanese Nikkei newspaper.

The plant would cost $200 million and would utilize Kobe Steel's ITmk3 technology to produce iron nuggets from a low-grade iron ore, providing the feedstock in EAF operations instead of steel scrap. If plans for the facility go through, the plant could begin operations in 2014.