POSCO increases stake in Roy Hill Resources to 15% for $1.5b
Sundance to be sold for $1.7b
Is there a Plan B or has GJ focussed only on selling the company to the Chinese?
Stakes raised as Posco play makes Rinehart a $20bn woman by: Andrew Burrell From: The Australian January 21, 2012 12:00AM
Posco confirmed from Seoul that it would spend about $1.5 billion to become a key investor in Rinehart's Roy Hill project, which is scheduled to begin shipping iron ore within two years.
The mine, which has mineral resources of more than one billion tonnes, is estimated to produce the bulk commodity at a rate of 55 million tonnes per annum.
http://www.smh.com.au/business/gina-rineharts-72b-roy-hill-rail-line-approved-20100624-z25e.html#ixzz1nkjHHxRD
Add to My Watchlist
What is My Watchlist?