Australia’s BC Iron bids for rival, shows iron ore mines still in demand
SYDNEY, Aug 11 (Reuters) – BC Iron Ltd has launched a friendly cash and share offer worth around A$256 million ($237 million) for smaller rival Iron Ore Holdings Ltd, the second takeover in a month aimed at beefing up production in Australia’s main iron ore region.
Australian miners continue to rack up strong profits from iron ore despite falling prices this year, although many have been under pressure to improve efficiency in the face of uncertain demand from key buyer China.
Read more at: http://www.reuters.com/article/2014/08/11/ioh-bc-iron-mergers-idUSL4N0QG0TG20140811
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