Nippon Steel to invest in reduced iron projects needed for green steel

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TOKYO, Dec 22 (Reuters) – Japan’s top steelmaker Nippon Steel Corp (5401.T) aims to join new raw material development projects to make reduced iron, using hydrogen, to meet the growing demand for green steel, its president said on Thursday.

But the company will keep investing in coking coal mines to secure a key steel-making raw material as new development projects for the coal have been shrinking due to concerns over climate change, Nippon Steel President Eiji Hashimoto told a news conference.

Reduced iron is produced from a process where oxygen is removed from the iron ore to make metallic iron without melting it.

Reporting by Yuka Obayashi; editing by Christian Schmollinger

Our Standards: The Thomson Reuters Trust Principles.



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