Seoul, South Korea — MININGREVIEW.COM — 17 September 2010 – Posco “’ South Korea’s largest steelmaker “’ is in talks with the government of Zimbabwe with a view to co-operating on the future development of a variety of raw materials.
“We’re hoping for a good partnership with Posco,” mines minister Obert Mpofu said in an interview here. “We view Posco as a potential ally for Zimbabwe.”
Posco spokesman Choi Doo Jin declined to comment on the talks. “Posco is considering buying silica, a raw material used to make ferro-silicon, from Zimbabwe,” Choi said earlier this year.
“Posco officials visited Zimbabwe in June and will return by the end of the year,” said Mpofu, who is visiting Seoul to attend a ministerial conference between South Korea and African nations.
South Korea, which imports almost all its energy and mineral needs, is competing with China and India to secure supplies of raw materials. Zimbabwe has the world’s second- biggest deposits of platinum and chrome after South Africa, and has reserves of gold, diamonds, coal and iron ore.
South Korean companies have made 31 bids worth US$9.9 billion (R75 billion) for foreign resources assets in the past 12 months, according to data compiled by Bloomberg. The nation is Asia’s fourth-largest economy.