China’s Hebei Iron and Steel Group, one of the country’s largest steel mills, is reportedly in talks with Australia's Atlas Iron to buy a stake in the Ridley magnetite deposit. The Western Australia-project is expected to produce 15 million tonnes of iron ore a year over the next 35 years, and belonged to Aurox Resource, which is merging with Atlas. Hebei tried to deal with Aurox but negotiations failed and now the Chinese group would get conversations back.
Hebei is trying to ensure iron ore supplies just like fellow steelmakers Baosteel, which recently bought a stake at Australia's Aquila Resources, and Wuhan Steel, which formed a joint venture with Brazil's MMX.
Publicado em: 30/6/2010 00:26:00
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