Bloomberg News

Posco May Study Investing in Mitsubishi Proposed Iron Ore Deal

November 24, 2011

Nov. 24 (Bloomberg) -- Posco, the world’s third-biggest steelmaker, may study investing in Mitsubishi Corp.’s iron ore operation in Australia’s Mid-West region.

Posco said in an e-mailed statement it will wait until Mitsubishi finalizes a deal to control the assets before it makes any decision. Mitsubishi today agreed to pay partner Murchison Metals Ltd. A$325 million to gain control of an iron ore mine, port and rail projects.

To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net


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