Fortescue to buy Red Hawk Mining to tap Western Australia ore
The offer price of as much as A$1.20 cash per share implies a fully diluted equity value for Red Hawk of A$254 million ($160 million).
Miner Anglo American stuck to its production targets on Thursday despite a first quarter that saw floods and heavy rains hampering output, with coal output from its Australian operations down by over a third.
Anglo, the world’s fifth-biggest diversified miner, is the latest operator to detail the impact of freak weather across its operations.
Image by Jam343.
