admincompanies Posco of South Korea and China Steel Corporation of Taiwan.
The transaction, for the cash equivalent of 828 000 euros, will be settled in the first and second quarters of 2013, Arcelor Mittal said in a statement.
The assets concerned are about 100km wide and 1100km long and lie astride the border between Quebec and Labrador provinces.
This region is the focus of several big investments by leading mining companies such as Rio Tinto and Cliffs Natural Resources.
Under the terms of the deal, Posco and CSC will receive part of the output from the resource in line with their stakes.
The consortium which will acquire the assets being sold by ArcelorMittal also includes some financial investors who were not identified. — AFP.
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