trading halt!, page-14

Hanlon acquired wholly-owned mining company in Australia SDL
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Sichuan Daily - Sichuan Daily
Entered the world's third largest undeveloped iron ore district
Sichuan Daily News (Reporters Chen Jun) on suspicion of insider trading had attracted much attention of the Chinese Dragon Group to buy Australian Sundance Resources Ltd. Corporation (SDL) program was finally settled. Reporters from October 1, O'Hanlon Group to get the latest news, Chinese Dragon Chinese Dragon Mining Group's September 30 order was purchase price of A $ 0.57 per share, the acquisition of the total amount of about $ 1.7 billion the company completed the SDL acquisition success.
Information, SDL's iron ore project located in central Africa Mubarak iron ore reserves of 2.8 billion tons of proven and potential resources over a hundred million tons, about 50 years for development. The project is expected to begin production in 2014, annual production of up to 50 million tons, ranking fifth in the world. At the same time, the project supporting the railways, ports and other transport infrastructure are mine and Chinese companies signed a memorandum of cooperation. The Mubarak expected operating costs of iron ore only 21 U.S. dollars / ton in the international market is extremely competitive. The acquisition is successful, China's steel enterprises will have a profound impact, it will greatly strengthen the global iron ore market in China the right to speak.
"This acquisition is for the Chinese dragon is a milestone for China's mineral resources industry is also of great significance." Ambrose said Mubarak projects, Chinese companies from development to construction of the powerful combination is undoubtedly will give rise to related industries, a new pattern. Hanlon will continue to work to create an environment conducive to the development of Chinese enterprises to survive the environment.
Further Reading
Iron on Mubarak
Mubarak iron ore in West Africa, Central Coast, has more than 2.8 billion tons of proven resources, potential resources of more than ten billion tons, more than 50 years for mining. The project's main hematite are concentrated in the Nabeba and Mbarga mine, two veins of high grade hematite ore are covered in low-grade Tieying above, can be excavated by open pit mining. Nabeba hematite resources of direct extension to the ground 150 meters deeper than the Mbarga. Two veins of hematite strip ratio of less than 0.4:1.
The project will begin production in 2014, production is projected up 50 million tons annually, ranking fifth in the world.