Mineral Resources to Benefit From Atlas Takeover: Morgan Stanley
By Fox Hu
(Bloomberg) --
Takeover of Atlas Iron could boost capacity and save costs for Mineral Resources, Morgan Stanley analysts including Rahul Anandwrote in April 9 note.
Mineral Resources would hold capacity of ~20m metric tons a year at Utah Point port after acquisition
Mt Webber mine, owned by Atlas, could help Mineral Resources lower transport costs
Atlas ore assets sitting close to a planned rail link could help Mineral Resources save costs
Mineral Resources climbed as much as 5.4%, most in 2 months; Atlas rose 1.9% after surging 42% on Monday
Overweight rating and A$22.50 price target are maintained for Mineral Resources
AGO Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
