Global Steel may go into iron, nickel mining, readies $1.6B
February 28th, 2008
Filed under: Operator - Global Steel
From: Inquirer.net
By Amy R. Remo
Philippine Daily Inquirer
MANILA, Philippines — Steel maker Global Steel Philippines is considering investing in iron, nickel mining, with initial an investment of possibly $1.6 billion, Environment and Natural Resources Secretary Joselito Atienza said.
“Global Steel wants to mine for these minerals to locally supply raw materials to its planned integrated steel plant in the country,” Atienza said in an interview.
Indian-owned Global Steel, formerly the government-owned National Steel Corp., earlier announced it was preparing to build an integrated steel plant that would make the Philippines self-sufficient in steel.
Leave a Reply
Please note that your comments will be subject to moderation by the PMEA Blog Administrator.