POSCO Offers AUD 1 Billion Collateral for Roy Hill Iron Ore Project

  • Monday, November 11, 2013
  • Source:

  • Keywords:Iron Ore
[Fellow]
Reuters reported that South Korean steelmaker POSCO will offer its 12.5% stake in Roy Hill Holdings as collateral for the latter's Australia iron ore project, a sign that the AUD 10 billion venture is gaining funding.
 
POSCO said that the collateral, valued at KRW 1.49 trillion will be offered to export credit agencies in Korea, Japan and the United States and to other companies. The 55 million tonnes per year project has been pushed back because of delays securing AUD 7 billion in debt financing.
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
  • [Editor:editor]

Related News

·Iron Ore Rally Boosts Miners11-08
·Iron Ore Rally Boosts Miners11-08
·Capesize Iron Ore Freight Rates in Pacific under Pressure from Exc...11-08
·Many Chinese Mills Could Not Bear the Cost of the Pollution Treatm...11-08
·Capesize Iron Ore Freight Rates Trend up on Pacific Fixture Activi...11-07

Tell Us What You Think

please login!   login   register

  • Buy & Sell

 
Please be logged in to comment!