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Baosteel Could Have Competition Over Aquila Resources
Jun. 12, 2014 09:16AM PST
Base Metals Investing Mining.com reported that while China’s Baosteel Resources has recently put forward a bid to takeover Australia’s Aquila Resources (TSX:AQA), Mineral Resources (ASX:MIN) is now also showing interest in Aquila.
Mining.com reported that while China’s Baosteel Resources has recently put forward a bid to takeover Australia’s Aquila Resources (TSX:AQA), Mineral Resources (ASX:MIN) is now also showing interest in Aquila. According to Mining.com, Mineral Resources now owns 12 percent of Aquila.
As quoted in the publication:
Shares in Mineral Resources were placed in a trading halt, pending the release of a formal announcement. Baosteel and Aurizon are chasing Aquila for its 50% stake in the stalled $7 billion West Pilbara Iron Ore (WPIO) rail and port project and a coal mine in Queensland.