A US venture capital steel company that received an investment from a Chinese State-owned firm fought back against national security concerns raised by US lawmakers.

Steel Development Co, whose first project is to build a steel "rebar" production mill in Amory, Mississippi, said less than 20 percent of its total investment came from China's Anshan Iron and Steel Group. []

US lawmakers urge probe of Chinese steel investment 2010-07-03

A bipartisan group of 50 US lawmakers called for an investigation into whether a Chinese investment in the US steel sector should be blocked on national security grounds.The Congressional Steel Caucus, in a letter to Treasury Secretary Timothy Geithner, said it was "deeply concerned" the recently announced joint venture between Anshan Iron and Steel Group's and the Steel Development Co also threatened American jobs. []

Angang to form JV with US mill 2010-05-18