Nippon Gets Gov't Nod For Mozambique Coal Project

Law360, New York (April 4, 2013, 4:24 PM EDT) -- Nippon Steel & Sumitomo Metal Corp. has received approval from the Mozambique government to begin work on its coking coal mine project, a day after British mining giant Anglo American PLC dropped plans to buy a majority stake in the project for $555 million, Nippon Steel said Thursday.

Nippon, which along with Nippon Steel Trading Co. Ltd. owns a 33.3 percent working interest in the coking coal mine, said it received the mining concession from the Republic of Mozambique on Wednesday. The Japanese company will immediately...
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