“The closing of our investment in Big River brings us one step closer to creating a differentiated, world-competitive company that can offer our customers, employees and stockholders the ‘best of both’ integrated and mini-mill steelmaking technology,” said David B. Burritt, president and chief executive officer of U.  S. Steel.

“We have done more than make an investment in the newest and most advanced flat-rolled mill in North America … we have invested in the future of U.  S. Steel.”

U. S. Steel paid US$700 million for the equity share in Big River and has the right to acquire the remaining 50.1% of the EAF steelmaker within four years.