Rising steel demand and expected outages at other mills owned by the company will enable expanded use of the Granite City Works in southern Illinois.
President Donald Trump holds a golden share in U.S. Steel that allows him to veto key business decisions under a deal struck with Japan's Nippon. Trump can also appoint a representative to wield those authorities.
The intervention marked Trump's first use of so-called "golden share" rights, a condition of the $14.1 billion takeover cleared in June.
The fatal explosion last week at U.S. Steel's Pittsburgh-area coal-processing plant has revived debate about its future just as the iconic American company was emerging from a long period of uncertainty.
Crews are working to restore operations after the deaths of two employees.
Japan's Nippon Steel said on Wednesday it would raise 800 billion yen ($5.6 billion) through two subordinated loans to partially fund its recent $14.9 billion acquisition of U.S. Steel and refinance previous loans.
The U.S. administration's policy shift to introduce high tariffs will increase the strategic importance of Nippon Steel's business development in the U.S. market, the top Japanese steelmaker's CEO, Eiji Hashimoto, said on Thursday.
Trump issued an order that allowed U.S. Steel and Nippon to finalize their merger so long as they signed a national security agreement with the U.S. government.
Nippon Steel shares rose on Monday after U.S. President Donald Trump approved its $14.9 billion bid for U.S. Steel , clearing a key hurdle in its 18-month pursuit and securing access to a vital market for its growth strategy.
President Donald Trump issued an executive order on Friday approving U.S. Steel's merger with Japan's Nippon Steel, after the companies signed a national security agreement with the U.S. government. In this article X
U.S. President Donald Trump has approved the partnership between United States Steel Corp and Japan's Nippon Steel , the companies said on Friday.
The agreement with Nippon Steel is designed to resolve national-security concerns with the company's planned acquisition of U.S. Steel.