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Nippon Steel group named to lead Mitsui Mining reconstruction

TOKYO, Japan - Mitsui Mining Co. President Taro Yamaho speaks at a press conference in Tokyo on March 16 after the state-backed Industrial Revitalization Corp. of Japan named a Japanese consortium led by Nippon Steel Corp. to sponsor the reconstruction of the ailing mining firm. The consortium, which includes trading house Sumitomo Corp. and Daiwa Securities SMBC Principal Investment Co., an investment arm of Daiwa Securities Group Inc., has competed for the sponsorship with U.S. investment fund WL Ross & Co. (Kyodo)