Ahmsa and Posco Consider Joint Venture
Altos Hornos de México (Ahmsa) and
Korean steelmaker Pohang Iron and Steel
(Posco) have signed a letter of intent to
jointly evaluate mining and iron and steel
projects, including a potential mining joint
venture between the companies to supply
iron ore to Posco. Posco will support an
investigation into the possibility of Ahmsa
developing a facility to supply the Mexican
market with automotive standard quality
steel, not currently produced in the country.
Pursuant to the letter of intent, by mid-year 2012, both parties will determine the
elements required to establish a joint ven-ture related to mining operations and will
review and analyze a possible collaboration
related to production of rolled steel.
Ahmsa is the major integrated iron and
steel company in Mexico. It has two pro-duction facilities in Monclova, Coahuila,
and it operates its own iron ore and coal
mines. Posco is the world’s third-largest
steel producer. It produces cold and hot
rolled steel, including a wide variety of
steel for automotive use.
As featured in Womp 2012 Vol 03 - www.womp-int.com