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Impact of Tailings Dam Collapse at Corrego do Feijao on Price
= POSCO expects little impact on the 3-month price that is set based on the Index =
Regarding the collapse of Vale's Tailings Dam at the Corrego do Feijao Mine, Brazil, on 25 January, POSCO has stated as follows (in summary): "Even though the iron ore production at the mine has stopped since the collapse, the production volume is fairly small and the ore is low in quality, and POSCO has not purchased from the mine at all. As such, there may be a price hike in fines in the short term, but the company expects no material impact on its average purchase price in the long term. With its iron ore suppliers, the prices are set on the basis of the Platts Index and the current $80 spot price would have little impact on the three-month average price."
last modified : Fri 08 Feb, 2019 [10:17]
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