Mineral Resources declines to match Rinehart bid for Atlas

Mining infrastructure provider Mineral Resources will not make an offer to counter Hancock Prospecting's $390 million bid for Pilbara miner Atlas Iron.

That will likely cool expectation of a possible bidding war for the iron ore miner, after Atlas on Tuesday gave Mineral Resources three business days to match a 4.2 cents per share takeover offer from billionaire Gina Rinehart's Hancock Prospecting.

Atlas operates in the iron ore rich Pilbara region of Western Australia and has undeveloped tenements that could potentially be brought into production with a larger partner.

Wed, 20/06/2018 - 12:44

Atlas Iron battle heats up with Rinehart's $390m takeover bid

Gina Rinehart’s Hancock Prospecting has moved to acquire Atlas Iron, offering $390 million for the in-demand iron ore junior.

Atlas announced to the ASX today that Hancock Prospecting subsidiary Redstone Corporation had offered 4.2 cents for each share in Atlas, trumping a $280 million bid by Mineral Resources to acquire the company.

The offer is all cash and unconditional, according to a bidder’s statement lodged with the ASX.

Mon, 18/06/2018 - 12:10
McGowan China

Premier flying to Beijing to strengthen WA resources

Western Australian Premier Mark McGowan is preparing for his second mission to China, this time focusing on strengthening investment in the state’s resources sector.

Mr McGowan will visit Beijing from June 6 to 9, meeting with representatives from Chinese central government agencies as well as some of China’s biggest investors in WA.

Tue, 05/06/2018 - 10:04