The steel-maker has formed a consortium with local investors to acquire the fore-mentioned stake of Canadian company for an amount of $1bn, reported Wall Street Journal.
The company is said to be interested in acquiring properties that mine the raw materials used in steel-making, for which it is raising funds by selling non-core businesses.
Besides ArcelorMittal, the company has also hinted at buying German steelmaker ThyssenKrupp’s properties in US.
Previously, Posco failed in acquiring Australian steel and iron-ore producer Arrium when latter raised the stake value to $1.25bn.
