S.KOREAN steelmaker POSCO to buy into Australian iron ore mine
POSCO, South Korea's top steelmaker, said Friday it will buy a 24.5 per cent stake in an Australian iron ore mine for 195 billion won in an effort to raise its resource self-sufficiency.
South Korean steelmaker POSCO on November 19 announced expansion plans locally and overseas, saying it would build a 1.4 billion dollar plant at home in addition to a new plant in India.