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More fuel to the fire....



DJ Wuhan Iron & Steel Interested In Aquila's Iron Ore Assets-Report25/08/2008 10:27AM AEST
HONG KONG (Dow Jones)--Wuhan Iron & Steel (Group) Corp. has expressed interest in Aquila Resources Ltd.'s (AQA.AU) proposed sale of iron ore assets, the South China Morning Post reported Monday, citing unnamed sources.

Late July, the Chinese company signed a confidentiality agreement that gave it access to the Australian mining company's financial data, the newspaper reported.

Wuhan Steel spokesman Bai Fan said he didn't know about the matter, while Citigroup Inc. and Macquarie Group Ltd., which are conducting a strategic review for Australia's fourth-largest mining company by market capitalization, declined to comment, the report said.

The report didn't name the iron ore assets that Aquila could sell.


Newspaper Web site: http://www.scmp.com


-By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002; [email protected]


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(END) Dow Jones Newswires

August 24, 2008 20:27 ET (00:27 GMT)

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