Nippon Steel hires Mike Pompeo to advise on US Steel deal
Nippon Steel also faces objections from the powerful United Steelworkers (USW) union, which fears the deal could lead to job losses.
Baffinland Iron Ore Mines’ Mary River mine is one of the world’s richest iron ore deposits with iron contents more than 65%. But the port on Baffin Island in northern Canada is one of the most remote and challenging locations in the world. It is only free of ice and accessible to shipping between the end of July and the beginning of October.
Thyssenkrupp is developing and building a new materials handling system, and the first delivery, including a crusher, a screening system and a railcar unloading station, was shipped from Bremerhaven, Germany in July.
The project generates potential for the economic development of the region and will create jobs for the local population.
The BigLift Barentsz reached port on Baffin Island with its roughly 5,500 tonne freight in the beginning of August.
Baffinland Iron Mines aims to more than triple its iron ore handling capacities to 12 million tonnes per year, thyssenkrupp said in a media statement.
