China’s Hanlong Raises Bid For Australia’s Sundance

Reuters reported China’s Hanlong Mining has agreed to raise its offer price to $1.5 million for Sundance Resources to secure an agreed takeover.

The market news is quoted as saying,

A successful deal would give Hanlong control of a major iron ore mine in west Africa and help feed China’s demand for metals. Hanlong already owns 18.6 percent of the company.

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