Rio Tinto bets on Trump support for long-stalled Arizona copper mine
Rio has faced a 12-year permitting battle to develop the Resolution mine, which could meet 25% of the US domestic copper needs.
June 26 (Reuters) – The Australian Government Takeover Panel said on Tuesday it received an application from a unit of iron ore miner Fortescue Metals Group regarding an offer by a Hancock Prospecting Pty unit for Atlas Iron Ltd.
NCZ Investments Pty, a Fortescue unit, seeks interim orders to restrain Gina Rinehart controlled-Redstone Corp Pty from dispatching its bidder’s statement, the panel said.
The unit is also seeking to stop Hancock Prospecting and Redstone from buying any more Atlas shares until further disclosure is provided.
A sitting panel has not been appointed and no decision has been made whether to conduct proceedings, the regulator said.
(Reporting by Aaron Saldanha in Bengaluru; Editing by Sherry Jacob-Phillips)
