Reuters reported that ArcelorMittal (NYSE:MT) will sell its 15-percent stake — worth $1.1 billion — in ArcelorMittal Mines Canada, its Canadian unit, to a consortium that includes China Steel (TPE:2002) and South Korea's POSCO (NYSE:PKX).
Bloomberg reported Posco (NYSE:PKX) may buy a stake in ArcelorMittal Mines Canada Inc. (NYSE:MT) after canceling a bid for Arrium Ltd. (ASX:ARI).
Reuters reported Posco (NYSE:PKX) and other steelmakers are requesting iron ore producer return to yearly pricing contracts instead of changing prices with each exchange.
Reuters reported Marubeni Corp (TYO:8002), POSCO (NYSE:PKX) and STX Corp (SEO:01181) will buy 30 percent of an Australian iron ore project for A$3.5 billion.
Reuters Africa reports that India's environment minister said POSCO (SEO:005490), which wants to build a $12 billion steel plant in eastern India, should not export raw materials, including iron ore.
By Kishori Krishnan Exclusive To Iron Investing News With key indicators across developed economies showing an improvement in the quarter, mining heavyweight BHP Billiton Ltd has teamed up with rivals Rio Tinto Group and Posco, Asia’s most profitable steelmaker, in raising iron-ore production. An uptick in demand from automakers and builders has ensured a good [...]
India will speed up the process of granting iron ore mining licenses to various steel companies, including South Korea’s Posco. For full story, click here
India declared that it will speed up the process of granting iron ore mining licenses to various steel companies, including South Korea’s Posco. For full story, click here
India will speed up the process of granting iron ore mining licenses to various steel companies, including South Korea’s Posco. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The heat is on. Australian miner Fortescue Metals Group (FMG.AX) said on Thursday that Chinese steel mills are unlikely to get a better deal for iron ore purchases than the 33 per cent reduction agreed by Japanese and South Korean rivals. Fortescue, Australia’s third-largest iron ore miner, [...]
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