The complication for Nippon Steel is that regulators may look unfavorably on whether its acquisition of US Steel could allow more access to US markets for Chinese-sourced steel.
China’s overseas investment in metals and mining as part of its Belt and Road Initiative surged by 158% last year, hitting $19.4 billion with energy transition metals the main focus.
Australia is throwing a lifeline to its under pressure nickel mining sector, but the solution on offer is more of a band aid than the needed major surgery, the carving of the global nickel industry into green and dirty.