Korea's Posco Denies Planing for Steel Mill in Congo

Bloomberg --Posco, the world’s third-biggest steelmaker, said it isn’t planning to build a steel mill in the Democratic Republic of Congo.

The Maeil Business newspaper had reported that the company intended to build a plant in the African nation. The report also said Posco would sign an agreement with the country’s government on Jan. 26, for copper and iron ore exploration rights.

“We are interested in natural resources in Africa in general, but nothing has been decided on that either,” Choi Doo Jin, a spokesman for the Pohang, South Korea-based company, said by phone today.