Shingo Ueno, 64, has played a pivotal role in leading Sumitomo's metals, resources and chemicals businesses.

Zambia had been seeking a new investor for Mopani since it took control of the assets from Glencore in 2021.

Japanese Industry Minister Ken Saito praised his country's ties with the US but declined to comment directly on Nippon Steel's $14.9 billion proposed acquisition of US Steel.

ENRC has always denied any wrongdoing and argued the UK's Serious Fraud Office would not have launched its investigation if it had not first induced the company's former lawyer to act against its interests.

Home to 90% of the world's diamond cutting and polishing industry, India is critical to the implementation of the ban.

Nippon Steel’s stock has climbed 58% since Eiji Hashimoto took the helm in April 2019.