Taiwan’s China Steel buys 2.5% stake in Roy Hill

May 02, 2012 | 11:39 PM |

China Steel Corp has agreed to buy a 2.5% stake in the Roy Hill iron ore project from South Korea’s Posco, to increase self-sufficiency.
China Steel, Taiwan's biggest steelmaker, will pay A$305.2 million ($315.2 million) for a 12.5% stake in KJTC Pty Ltd, Posco’s subsidiary in Australia, which will allow it to own a 2.5% interest in the Roy Hill project indirectly, the Taiwan steel mill announced. ....

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