ISG submits bid for Mitsui Mining Co

ISG submits bid for Mitsui Mining Co

US steel producer International Steel Group (ISG) has recently submitted Yen 10 billion ($95.7 million) for Mitsui Mining Corp. With the acquisition of Mitsui Mining, which is currently undergoing restructuring program, ISG aims to secure stable raw material supply. The acquisition holds great importance for ISG as global demand for raw materials used in steel making is quite strong. Moreover, ISG hopes to acquire Mitsui Mining's coal processing technology. It is reported that ISG wants to acquire 52% stake in Mitsui Mining however it is added that the company has to compete with other bidders.