Posco purchasing 31% stake in China's rare earths firm Yongxin

Jun 15, 2010 | 07:34 AM |

South Korea's Posco Ltd. has agreed to buy a 31-percent stake in China's Yongxin Rare Earth Trading Co. in eastern China's Jiangsu province in order to secure a supply of rare earth metals.

Seoul-based Posco and Korea Resources Corp. will buy a total of 60 percent of Yongxin Rare Earth for 59.76 million yuan ($8.74 million), according to Posco, which declined to disclose additional details of the deal.....

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