Posco acquired China's Yongxin Rare Earth

Korea Resources Corp., or Kores, said Thursday that it had acquired a combined 60% stake in China's Yongxin Rare Earth Trade Co.Asian Metal Copyright Yongxin Rare Earth Trade now has a 40% stake in a new company, Posco Kores Yongxin Rare Earth Metal Co.Asian Metal Copyright as part of a consortium with Posco (005490.Asian Metal CopyrightSE for 59.Asian Metal CopyrightSE) for 59.Asian Metal Copyright R.Asian Metal Copyright76 million yuan ($8.Asian Metal CopyrightSE for 59.Asian Metal Copyright7 million).Asian Metal CopyrightKorea Resources Corp.Asian Metal Copyright Yongxin Rare Earth Trade now has a 40% stake in a new company, Posco Kores Yongxin Rare Earth Metal Co.Asian Metal Copyright7 million.Asian Metal Copyright, Posco holds 31% and Kores 29%, Kores said in a statement. R