(ChinaCoalResource, Sept 28, 2006) South Korean steel company Posco said Wednesday that it is reviewing with other companies the opportunities for metallurgic development in the northern Chinese province of Heilongjiang with other companies.

 

Posco, responding to a Korean Stock Exchange request for disclosure regarding its plan for developing metallurgic coal, said it has had preliminary discussions over the matter, but nothing has been determined.

 

Posco's filing with the Securities and Exchange Wednesday didn't provide further details of its plans for expansion into the province.

 

As the global steel industry consolidates, Posco is looking for closer relationships with steel companies in neighboring countries to remain competitive.

 

Earlier this month, Posco announced that it will work together with Japanese steelmaker Nippon Steel Corp., following the merger of steelmaking giants Mittal Steel Co. and Arcelor SA.
source:ChinaCoalResource