POSCO said that it isn't planning to build a steel mill in the Democratic Republic of Congo.

Mr Choi Doo Jin, a spokesman for POSCO, said that "We are interested in natural resources in Africa in general, but nothing has been decided on that either."

The Maeil Business newspaper had reported that the company intended to build a plant in the African nation.

The report also said POSCO would sign an agreement with the country’s government on January 26th 2011, for copper and iron ore exploration rights.

(Sourced from www.bloomberg.net)