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Ahmsa, Posco plan mining, steel projects in Mexico

February 09, 2012 - 09:26 GMT Location: São Paulo

KEYWORDS: Posco , Ahmsa , Mexico , South Korea , iron ore , finished steel , joint venture

Mexico’s largest integrated steel mill, Altos Hornos de Mexico (Ahmsa), has signed a letter of intent with South Korea’s Posco to jointly evaluate steel and mining projects in the Latin American nation.

Under the agreement, the companies will look into establishing a mining joint venture to supply iron ore to Posco’s steelworks, Ahmsa said in a filing with the Mexican Stock Exchange on Wednesday February 8. Based on Posco’s expertise to produce finished steel for the automotive industry, the mills...

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