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.
Australian zinc miner New Century Resources on Wednesday recommended its shareholders accept South African precious metals producer Sibanye-Stillwater’s takeover offer of A$144.1 million ($94.9 million).
Sibanye-Stillwater, the biggest shareholder in New Century with an up to 73.41% stake, last month launched an unsolicited takeover bid of A$1.10 cash per share.
New Century said it recommends it shareholders accept the Sibanye offer in the absence of a competing proposal.
New Century, which has been producing zinc from tailings or waste, is an attractive takeover target as Sibanye-Stillwater has been expanding into recycling and waste management.
($1 = 1.5184 Australian dollars)
(By Upasana Singh; Editing by Krishna Chandra Eluri and Shinjini Ganguli)
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