Here is an exert from an article in todays Age. It appears Posco is not shy when comes spending big dollars.
"Rinehart's company Hancock Prospecting owns 70 per cent of the Roy Hill project, with the remaining 30 per cent owned by South Korean steel giant Posco, Japanese steelmaker Marubeni Corporation and Taiwan's China Steel Corporation.
The partners pumped more than $3 billion into the project ahead of $8 billion worth of funding being approved in March this year by a banking syndicate."
TNG Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
