Column: Electric dreams turn into a nightmare for battery metals
A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite into the cost curve.
The United Steelworkers (USW) signed a non-disclosure agreement with Nippon Steel, the union said on Monday, as the Japanese company remains on track to finalize its planned $15 billion acquisition of US Steel.
However, the union said even with the agreement, Nippon has not provided it with all of the information requested.
The world’s fourth-largest steelmaker’s planned deal has drawn criticism from Democratic and Republican lawmakers and the powerful USW union.
Nippon Steel aims to gain consent from the USW, the main union at US Steel, by emphasizing the deal would strengthen the US company’s profitability and finances, leading to stable employment.
(By Kannaki Deka; Editing by Maju Samuel)
Read More: Nippon Steel’s China assets raise concerns over US deal
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