Japan’s largest steelmaker, Nippon Steel, has acquired a 30 per cent stake in Canada’s Kami iron ore project, forming a joint venture with Australia’s Champion Iron and trading house Sojitz to secure supplies of high-grade ore for direct reduced iron production.

Through its subsidiary NS Canadian Resources, Nippon Steel has paid C$42 million (Rs 2.5 billion) of the total C$150 million (Rs 9 billion) investment, with the remaining C$108 million (Rs 6.5 billion) subject to an additional investment decision based on a feasibility study.

The deal builds on a December agreement in which Nippon Steel and Sojitz purchased a 49 per cent interest in the project from Champion Iron for C$245 million (Rs 14.7 billion). Under the new joint venture, Kami Iron Mine Partnership, the companies will advance the feasibility study for the Newfoundland and Labrador project.

Nippon Steel said the project’s high-grade ore is ideal for producing direct reduced iron, which, together with high-quality scrap, is crucial for operating large electric arc furnaces. The company plans to expand such furnaces to lower carbon emissions as part of its decarbonisation strategy.

Jindal Steel on Friday commissioned the 5 million tonne per annum (MTPA) Bhagavati Subhadrika Blast Furnace–II at Angul, marking a milestone in India’s steel industry. The ceremonial blow-in was led by company chairman Naveen Jindal.

With the commissioning, Angul becomes the largest single-location steelmaking facility in the country. The Bhagavati Subhadrika Blast Furnace, with a volume of 5,499 cubic metres, ranks among the world’s largest and most advanced. Jindal Steel said the furnace incorporates cutting-edge automation, a robust safety-first design and enhanced sustainability features.

“Commissioning the Bhagavati Subhadrika Blast Furnace at Angul is a proud moment for Jindal Steel and for India. By doubling Angul’s capacity to 12 MTPA, we are strengthening our global competitiveness and reaffirming our commitment to Atmanirbhar Bharat,” said Naveen Jindal.

The company added that Angul will serve as its central hub for future expansion. Upcoming developments include a dedicated port at Paradip, a slurry pipeline, a coal pipe conveyor to boost supply chain efficiency, the Shreebhoomi Power Plant and new coke oven facilities. These projects are expected to establish Angul as the cornerstone of Jindal Steel’s global growth strategy.

The global steel industry marked a milestone with the launch of “Mastering Carbon Steel Sourcing: From Domestic Suppliers to Global Partnerships,” the world’s first book on carbon steel sourcing. Authored by Panckaj N Umrania, Executive Director of KND Steel, the book was unveiled by Jitendra Sharma, ED & CEO of Hero Steels Ltd.

The event saw participation from industry leaders, policymakers, and representatives from JBM Group, Havells India, Philips Lighting India, Air India, and Northern Railways, underscoring its industry relevance.

Published by Academic Foundation India, the book serves as a guide for business leaders and sourcing professionals, covering supply chain optimisation, quality control, and cost management. It also highlights India’s growing role in global steel sourcing.

Speaking at the launch, Umrania stated, “This book addresses key sourcing challenges and provides practical solutions to help businesses enhance profitability.”

The event concluded with a panel discussion on the future of steel sourcing and supply chain innovation, reinforcing the book’s significance in transforming global sourcing strategies.