India approves $12 bln POSCO mill; eyes on mining rights


* Separate court ruling on mining rights seen in 1H 2012 * Overseas expansion critical for POSCO * Steelmakers rush into India on rising auto, home demand SEOUL, Jan 31 (Reuters) - India's decision on Monday to approve a $12 billion steel mill by POSCO will help the world's No. 3 steelmaker move toward its strategy of raising exports and gaining access to low-cost iron ore. The No.3 global steelmaker's 12-million-tonne steel project, first announced in 2005, is the centerpiece of ...

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