Hey RC and Col,
Thought that might interest you both.
Mining baron Gina Rinehart has purchased a 19.6 per cent interest in Atlas Iron in what is the latest twist in the battle for the West Australian iron ore miner.
It is understood the stake was acquired today.
It comes after a takeover bid by Mineral Resources was recently blocked by Fortescue Metals, which acquired a 19.9 per cent stake in the group in the past week.
Fortescue, advised by Credit Suisse, is understood to have embarked on the move to prevent Mineral Resources shipping cheap iron ore through the Atlas Iron-owned Utah Point terminal.
AGO Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
