BHP locks in supply agreement

Delegations of Hyundai Steel and BHP Billiton have signed an eight year supply contract to deliver 22 million tonnes of iron ore from 2009.

Delegations of Hyundai Steel and BHP Billiton have signed an eight year supply contract to deliver 22 million tonnes of iron ore from 2009.

Hyundai Steel is the world’s second largest electric arc furnace steelmaker.

Hyundai is building an integrated steel works at Dangjin with annual capacity of eight million tonnes of crude steel and will operate the first blast furnace plant from January 2009.

Hyundai Steel now have secured a total of 13.6 million tonnes of iron ore, which is enough to operate the integrated steel works with eight million tonnes of annual crude steel production capacity by signing with BHP Billiton.

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