Nippon Steel’s thwarted bid sets up tougher rivalry with Chinese mills
Creating an entity to compete more effectively with China was touted as a key rationale behind the Japanese firm’s proposal to purchase US Steel.
A gas explosion at a Chinese coal mine has killed 10 workers and injured another 15, according to local authorities in Hunan province, central China.
Two of the injured 15 are said to be in critical condition.
The blast ripped through a mine shaft just before 8 p.m. on Sunday at the Simachong coal mine. A total of 39 miners were working underground when the blast occurred.
Eight people are being held by local police, including members of the mine’s legal and management teams.
Sources: Deccan Herald; Bloomberg
