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CISEY China Steel Corporation (PK)

0.00
0.00 (0.00%)
Name Symbol Market Type
China Steel Corporation (PK) USOTC:CISEY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 0.00 -

Taiwan's China Steel Drops Plan to Invest in Australian Coal Mine

15/06/2012 11:37am

Dow Jones News


China Steel (PK) (USOTC:CISEY)
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   By Lorraine Luk 
 

TAIPEI--China Steel Corp. (2002.TW) said Friday that it has dropped a plan to invest in an Australian coal mine owned by MCG after one of the mine's shareholders exercised priority rights to increase investments.

China Steel, Taiwan's biggest steelmaker by revenue, said in February that it approved an investment of $102 million Australian dollars (US$95.03 million) in the MCG mine--A$50 million to buy a 10% stake and A$52 million for capital expenditure.

Write to Lorraine Luk at lorraine.luk@dowjones.com

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