U.S. Steel invests $700M in Big River Steel joint venture

Big River Steel announced a joint venture agreement with U.S. Steel, receiving $700 million in cash for a 49.9% ownership interest. The deal values Big River at $2.325 billion and includes an option for U.S. Steel to acquire the remaining 50.1%.

“As partners with U. S. Steel, we intend to prove to the world that the best way to make steel is by combining the best of traditional integrated steel making with the best of electric arc furnace mini mill steel making.”prnewswire.com

• 2 sources
• prnewswire.comBig River Steel Attracts $700M Investment from U. S. SteelBig River SteelOct 1, 2019
• wsj.comU.S. Steel’s Turnaround Plan Runs Through Big River MillBob TitaFeb 20, 2020

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