POSCO and BHP Billiton sign iron ore deal
South Korean steel giant POSCO has recently signed an agreement with Australian mining giant
BHP Billiton to supply
iron ore for 10 years.
The deal covers supply of 125 million tons of
iron ore until March 2017.
The two companies had previously signed an
iron ore contract. The recent deal is an extension the previous deal which would expire in April 2007.
As reported by SteelOrbis back in November, POSCO signed an agreement with Brazilian mining giant Companhia
Vale do Rio Doce (CVRD) to supply 100 million tons of
iron ore till March 2015.