Asia Resources declared that it has entered into a memorandum of understanding with the owner of a 1,195 hectares iron ore deposit in Indonesia, in which it intends to purchase a 55% stake. For full story, click here
There are billions of dollars at stake, but China still has not agreed on a price with its major iron ore suppliers for the current year. For full story, click here
Brazilian iron ore miner MMX declared that it received a nonbinding offer from China’s Wuhan Iron And Steel Inc for a minority stake in it and its subsidiary MMX Sudeste Mineracao. For full story, click here
State-owned NMDC Ltd declared that it will acquire a majority stake in Kudremukh Iron Ore Co Ltd. For full story, click here
Consolidated Thompson Iron Mines Ltd announced that Chinese steel maker Wuhan Iron and Steel Corp has agreed to make a $240 million in the Canadian mining company in return for a 19.9 percent stake in the company. For full story, click here
India’s Dempo Group is may divest 40% in a company that will house its 100 million tonne iron ore reserve. Mr Shrinivas V Dempo, chairman of VS Dempo & Company, said: We are already in talks with 3 to 4 private equity players. We expect to finalize the deal by the end of December. For more information, [...]
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