Taipei: Taiwan’s China Steel has joined a consortium led by Korean giant Posco to buy a 15% stake in an ArcelorMittal (MT)-controlled iron ore mining company in Canada for $1.1bn.
Posco and its partners agreed on Monday to acquire the stake in ArcelorMittal Mines Canada. It has yet to be confirmed how large China Steel’s stake is, but initial reports suggest it could be putting up to 50% of the capital for the purchase. [02/01/13]
