Posco joins Pallinghurst consortium in bid to create steel raw...

Posco joins Pallinghurst consortium in bid to create steel raw materials giant
Metals Insider - 1 June 2007
Brian Gilbertson, whose investment vehicle Pallinghurst Resources is leading a bid to buy a 60% interest in Australia’s Consolidated Minerals, today identified South Korean steel-maker Posco as the previously unnamed Asian steel player who will join in the bid.
Pallinghurst said earlier this week that it was being joined by US private coal group AMCI and resource bank Investec, both of which would contribute $200m. It also said an Asian steel company was expected to join and contribute another $100m.
The new partnership has a stated aiming of transforming Consolidated Minerals, which specialises in production of bulk alloys and nickel, into a major raw materials supplier to the steel sector.