xstrata, page-15

Sundance Resources, Hanlong Mining, Xstrata

Meanwhile, the takeover tussle for iron ore target
GISY

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Sundance Resources looks set to get interesting, with the company?s major shareholder and suitor Hanlong Mining reportedly facing some competition. Hanlong has pitched a $1.4 billion bid to get its hands on the attractive, but potentially politically tricky Mbalam project in West Africa, however the Australian Financial Review reports that a heavyweight miner is also in Sundance?s data room. The name bandied around is again Xstrata, so the Swiss miner certainly seems active, while Anglo American has also been mentioned as a potential candidate. The rival suitor has already had a look at the project and this is exactly the sort of speculation that Sundance has been hoping for as it looks to extract a better deal from Hanlong. Meanwhile, the AFR also reports that Hanlong has added Deutsche Bank to its list of advisers.