Korean Steelmaker's $12B Plant Clears India Court Hurdle

Law360, New York (May 10, 2013, 6:34 PM EDT) -- India's highest court reportedly cleared a path on Friday for a unit of Korean steelmaker POSCO to seek a mining license that is needed for a controversial $12 billion steel plant it has been trying to build in the country for more than eight years.

Overturning a lower court's decision, the Supreme Court of India has ordered the country's government to hear out a petition for a license to mine iron ore in Khandadhar — though the government should listen to all objections raised over the...
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