It looks like Nectar was on to something about a week ago. This development looks very encouraging.
Looking up this article from Korea Herald the following was also stated.
POSCO has been pushing to buy coal and iron ore mines in Australia, Canada, Brazil and other countries in a bid to secure stable supplies for its steel-making operation, while raising its self-sufficiency rate in raw materials to 50 percent by 2014.
The ratio stood at about 18 percent last year, far below the world?s top steelmaker Arcelor Mittal?s 46 percent, Nippon Steel Corp.?s 25 percent and Tata Steel Ltd.?s 100 percent for iron ore and 50 percent for coking coal.
It looks like Nectar was on to something about a week ago. This...
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