Iron Ore Mining Deal Set Back Six Months

Reuters reported Hanlong Mining has pushed back the dates of its takeover of Sundance Resources by six months.

As quoted in the market news:

The firms said they had agreed to delay the takeover until November after Hanlong struggled to line up funding from China.

The long delay on the deal, first announced last July, points to China’s reluctance to make big bets on risky resources projects offshore amid uncertainty over economic growth at home.

Click here to read the full Reuters report.