Atlas Iron has joined the bidding for takeover target FerrAus, proposing a two-phase deal that will see the two miners' south east Pilbara iron ore assets consolidated before Atlas takes all of FerrAus' shares in an off-market bid.
Pilbara-focused iron ore junior FerrAus has appointed former GRD chief executive Cliff Lawrenson as chief executive officer and managing director, subject to shareholder approval.
BHP Billiton has launched legal action against Chinese takeover target FerrAus in the WA Supreme Court to stop FerrAus appointing an independent expert to determine the terms of a rail haulage agreement.
Hong Kong listed Wah Nam International has launched a conditional off market takeover offer for emerging iron ore producers Brockman Resources and FerrAus valued at about $1.2 billion.
China has today expanded its presence in the state's junior iron ore sector, striking placement deals valued at nearly $40 million with two explorers that hold projects in Western Australia.
Pilbara iron ore explorer FerrAus Ltd has become the latest resource company to attract the interest of China, with mining and smelting company Western Mining Co Ltd to take a 10 per cent stake.
28 Jun 2011
