Australia's Fortescue Metals appeals to regulator on Rinehart-Atlas Iron bid

By Reuters / June 26, 2018 / www.mining.com / Article Link

June 26 (Reuters) - The Australian Government Takeover Panel said on Tuesday it received an application from a unit of iron ore miner Fortescue Metals Group regarding an offer by a Hancock Prospecting Pty unit for Atlas Iron Ltd.

NCZ Investments Pty, a Fortescue unit, seeks interim orders to restrain Gina Rinehart controlled-Redstone Corp Pty from dispatching its bidder's statement, the panel said.

The unit is also seeking to stop Hancock Prospecting and Redstone from buying any more Atlas shares until further disclosure is provided.

A sitting panel has not been appointed and no decision has been made whether to conduct proceedings, the regulator said.

(Reporting by Aaron Saldanha in Bengaluru; Editing by Sherry Jacob-Phillips)

Recent News

Strong revenue growth continues while costs ease

March 10, 2025 / www.canadianminingreport.com

Gold stocks back near highs

March 10, 2025 / www.canadianminingreport.com

Budgets shift to later phases and larger companies

March 03, 2025 / www.canadianminingreport.com

Gold stocks decline on metal and equities drop

March 03, 2025 / www.canadianminingreport.com

TSXV Mining's gold-driven outperformance

February 24, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok