Mexico’s AHMSA evaluating joint mining venture with POSCO

Thursday, 09 February 2012 01:44:23 (GMT+2)

Mexican-based steelmaker Altos Hornos de Mexico (AHMSA) announced Wednesday through a statement on the Mexican stock exchange plans to evaluate a joint venture with South Korean-based steelmaking giant Pohang Iron and Steel Company (POSCO).

Over the next six months, both AHMSA and POSCO will evaluate and work out the details of the joint venture in mining--which would provide Mexican iron ore to POSCO. A possible partnership to produce flat rolled steel for the automotive market is also under consideration.

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