• Steel Market Insider

    We strive to let you one step ahead of the market

Steel News
Advanced search
    Key words
  • Search By
  • Date
  • Classification
  • Region
Advanced search

Posco, Marubeni may invest US$3.6 billion in Australian iron ore project

  • A
  • A
  • A
According to report, Japanese trading house Marubeni Corp, teamed up with South Korean steelmaker Posco and shipbuilding STX Corp, will purchase 30% stake of Roy Hill iron ore project in Australia from Hancock Prospecting for AUD3.5 billion.

The Roy Hill project is expected to start its first shipment in 2014 and reach annul production of 55 million tons. With this capacity, it will catch the production level of Australia’s No.3 producer Fortescue Metals Group.

Marubeni will take over 12.5% of project for AUD1.5 billion, and Posco will buy 15% for AUD1.7 billion and STX will hold 2.5% for AUD300 million.

The mine is estimated that reserves about 2.4 billion of iron ore, locating at the Pilbara region.
News Date 30 Mar 2012 15:39:28 reported by Judy Lin

Taiwan’s CSC post 614% jump in H1 pre-tax income...
Finance and economy
21 Feb 2017 10:05
Bluescope Steel announces its profits rise signifi...
Finance and economy
20 Feb 2017 11:12
ArcelorMittal’s South American company to improve ...
Finance and economy
17 Feb 2017 12:04
Hyundai Steel announces its 2016 net profits up ...
Finance and economy
15 Feb 2017 11:57
Chinese steel exports hit a record low in Jan 2017...
Finance and economy
13 Feb 2017 14:42
Most Popular