Wugang to pay $400m for stake in MMX
By Zhang Qi | China Daily | Updated: 2009-12-01 08:02
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A ship laden with iron ore making its way into the industrial port of Wugang. The Chinese steelmaker will become the second-biggest shareholder in the Brazilian miner.Hu Weiming |
Steelmaker Wuhan Iron & Steel Group (Wugang) is acquiring a 21.52 percent stake in Brazilian iron ore miner MMX Mineracao e Metalicos SA for $400 million to bolster its iron ore supplies.
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