ArcelorMittal gets $810M for stake in iron ore venture

Mar 18, 2013 | 11:09 AM | Stacy Irish

Tags  ArcelorMittal, ArcelorMittal Mines Canada, iron ore, Posco, China Steel, Steel First, Stacy Irish

NEW YORK — ArcelorMittal SA said it has received the first installment from its sale of a 15-percent stake in its Labrador Trough iron ore assets in Quebec.

A consortium led by Pohang, South Korea-based Posco Ltd. and Kaohsiung, Taiwan-based China Steel Corp. now owns an 11.05-percent share in the iron ore joint venture in exchange for $810 million....

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