SEOUL, March 3 POSCO (005490.KS), Nippon Steel
Corp (5401.T) and four other entities will buy a 15 percent stake
in a Brazilian rare earth mining company for around $1.83
billion, a source close to the matter told Reuters.
South Korea's POSCO and National Pension Service and Japan's
Nippon Steel, JFE Holdings (5411.T), Sojitz Corp (2768.T) and a
Japanese government institution are involved in the deal, the
source said, declining to be named because an official
announcement had yet to be made. He did not identify the name of
the Brazilian company.
The Nikkei business daily said on Thursday that the
consortium would purchase a 15 percent stake in Brazil's
Companhia Brasileira de Metalurgia e Mineracao (CBMM), which
mines and processes niobium, a rare metal used to produce
high-grade steel used in autos and pipelines. [ID:nTKU000058].
(Reporting by Hyunjoo Jin; Editing by Jonathan Hopfner)