Posco will buy ArcelorMittal Mines Canada

Asia’s third largest steelmaker, Posco, agreed to buy a stake in Arcelor Mittal Mines Canada Inc. The Korean steelmaker hasn’t decided on the amount of stake it will purchase or for how much.
Posco will buy a 15 per cent stake in the mine for $1.1 billion. Yonhap News reported a group, including Posco and China Steel Corp, will buy the stake for $1.1 billion. China Steel will invest $540 million, while Posco will spend $270 million.
Arcelor Mittal is considering selling about 30 per

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