re: America is for sale: Japan buys US Steel

quote:

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Construction of BR2 is expected to be completed in 2024, and once complete will be the most advanced steelmaking facility in North America, featuring two EAFs, with a total three million tons per year of advanced steelmaking capability, a state-of-the-art endless casting and rolling line and advanced finishing capabilities. BR2 is expected to operate with up to 70-80% fewer greenhouse gas emissions compared to the traditional integrated steelmaking approach and directly support the Company’s sustainability commitments.


The above cost US Steel about 3 Billion.

They also opened a line this year that effectively makes them the leader in providing steel for transformer and car battery metals.

I live 20 min from Big River and its insane the amount of investment they've done over there. What started out as a small cold roll plant has turned into the world standard for steel production in just 5 years.

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And this is what bit the ceo in the arse. He was using capital from the traditional mills to buy and improve brs. He thought he was gonna sell off all the dirty steel plants and keep his so called green steel plant and walk away.

Cliffs called his bluff and along came other buyers.

I work for us steel and I'm not complaining as I've made damn near 100k in profit sharing in the last two years and I damn near doubled my 401k today.