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Baosteel Group is reportedly in talks with Russia’s coal and steel group Mechel over buying a 25% stake in Mechel’s mining sector for possibly US$1.25bn.
The entire unit sector be valued at US$5bn while the blocking stake is reportedly worth US$1.25bn. Mechel is one of the leading Russian companies and its business includes four segments: mining, steel, ferroalloy and power.
Source: China Metals e-mail firstname.lastname@example.org