Japan’s JBIC finances JFE Steel for acquisition of Blackwater coal mine in Queensland
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Update time : 2025-04-16 15:09:38
Japan's Japan Bank for International Cooperation (JBIC) has agreed to lend 34.2 billion yen to JFE Steel's Australian subsidiary to help finance its 57 billion acquisition of a participation interest in Australia's Blackwater coal mine project in Queensland, eastern Australia.
The financing, also supported by Mizuho, MUFG, and SMBC, will to secure a stable supply of coking coal for Japan's steel manufacturing sector.
JBIC said that this loan will help JFE Steel's access to high-quality coking coal, an important resource for Japanese industries, thereby strengthening the nation's steel and iron supply chains.
