Mercator buys 50 pc stake in Indonesian mine for USD 30 mn

United States Steel Corp. faces the prospect of being broken apart and sold in parts if Nippon Steel Corp.’s $14.1 billion takeover fails.

The departures came after global prices of the key steel-making ingredient tumbled almost 40%.

Nippon also disclosed it had hired former US House majority leader Dick Gephardt to assist in its efforts.

The mine, in the Hunter Valley region, was placed on care and maintenance in late 2006 because of operational difficulties and lower coal prices.