STEEL/IRON ORE- Shougang Group was blocked from buying 20...

STEEL/IRON ORE

- Shougang Group was blocked from buying 20 percent of Mount Gibson Iron (MGX.AX
MT GIBSON IRON31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
3.270 -0.040 -1.210%

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MGX.AX , 3.270, -0.040, -1.210%) this year because it did not bid for the whole company. It owns 18 percent of APAC Resources, which owns 20 percent of Mount Gibson.

Shougang owns 8.4 percent and APAC has 7.8 percent of iron ore miner Australasian Resources Ltd (ARH.AX
AUSTRALASIAN RSC31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
1.680 -0.015 -0.880%

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ARH.AX , 1.680, -0.015, -0.880%).

- Anshan Iron & Steel Group Corp <0347.HK>, or Angang, owns 12.8 percent in Gindalbie Metals Ltd (GBG.AX
GINDALBIE METALS31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
1.650 +0.020 +1.230%

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GBG.AX , 1.650, +0.020, +1.230%).

- Baotou Iron and Steel (Group) Co Ltd <600010.SS> holds 10.13 percent of Centrex Metals Ltd (CXM.AX
CENTREX METALS31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
0.595 +0.005 +0.850%

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CXM.AX , 0.595, +0.005, +0.850%).

- Property and steel conglomerate CITIC Pacific <0267.HK> owns the Sino Iron project, with 27.6 million tonnes output due to start in 2009-10. It plans to sell a 20 percent stake to state-owned MCC Group and cut its stake to 40-50 percent.

- MCC Group, also known as China Metallurgical, has applied to buy a nearby A$400 million iron ore project from Cape Lambert Iron Ore Ltd (CFE.AX
CAPE LAMBERT31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
0.620 -0.010 -1.590%

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CFE.AX , 0.620, -0.010, -1.590%) .

- Private ore trader Haoning Group is in talks to take a stake in miner Brockman Resources Ltd (BRM.AX
BROCKMAN RESC31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
2.700 +0 +0%

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BRM.AX , 2.700, +0, +0%), which plans to start up the Marillana project in the Pilbara region in 2009.

- Lead and zinc miner Western Mining Co <601168.SS> is taking 10 percent in Eastern Pilbara miner FerrAus (FRS.AX
FERRAUS31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
1.900 +0 +0%

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FRS.AX , 1.900, +0, +0%), for at least A$15.5 million.

- Hugo Natural Enterprises Ltd, backed by an unidentified Chinese iron and steel group, plans to lift its stake in iron ore prospector Apollo Minerals Ltd (AON.AX
APOLLO MINERALS31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
0.350 +0.020 +6.060%

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AON.AX , 0.350, +0.020, +6.060%) to 19.9 percent.

- State-owned trader Sinosteel Corp bid $1.3 billion for Midwest Corp (MIS.AX
MIDWEST CORP31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
7.060 +0 +0%

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MIS.AX , 7.060, +0, +0%). Midwest has recommended the cash bid but also a merger proposal from Murchison Metals Ltd (MMX.AX
MURCHISON METALS31 May,2008
31/05/2008 09:35 Sydney, Australia.
Value Change % Change
4.140 -0.010 -0.240%

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MMX.AX , 4.140, -0.010, -0.240%). Sinosteel also owns 2.4 percent of Murchison.