Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Shares of Sundance Resources have been suspended from trading in anticipation of Hanlong Mining Investment’s forthcoming USD 0.45-per-share bid for the company’s stock. The offer was expected to be announced on Tuesday.
Hanlong lowered its original USD 0.57-per-share offer in August after China’s National Development and Reform Commission granted provisional approval for the transaction on the condition that Hanlong pay a reasonable price for the company.
Source: Mining Weekly is an online publication based in Johannesburg, South Africa, that covers the metals and mining industry. Tags: Diversified Metals & Mining, Sundance Resources Ltd.
Source (English): MiningWeekly
