Mechel in talks with Posco, Baosteel on Elga stake sale-paper
MOSCOW May 13 (Reuters) – Russia’s Mechel OAO is in talks with China’s Baosteel and South Korea’s Posco on selling a stake in a unit that has a licence to develop the Elga coal project in Russia, Vedomosti daily reported on Tuesday.
Russian President Vladimir Putin, in response to Western sanctions over Moscow’s involvement in the Ukraine crisis, has urged Russian businesses to turn to Asia for financing and partnerships.
Read more at: http://af.reuters.com/article/commoditiesNews/idAFL6N0NZ0W820140513
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