We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Asian Group To Pay $1.8B For Brazilian Mining Stake

Law360 (March 3, 2011, 3:59 PM EST) -- Japan's Nippon Steel Corp. and JFE Steel Corp. are teaming up with South Korea's Posco to buy a stake in Brazilian rare earth metals miner Companhia Brasileira de Metalurgia e Mineracao in a $1.8 billion deal that shores up their supply.

The Japanese companies, as well as Tokyo-based investment firm Sojitz Corp., will invest $1.2 billion and Seoul-based Posco will invest $600 million, Kyodo News said.

The move is aimed at securing a supply of of rare metals needed for steel production amid growing demand from...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.