China Seeks Mount Gibson’s Ore

mount gibson iron

As China continues to procure from around the world, news from Australia that Beijing-based Shougang Corp has acquired a 20 percent stake in Australia’s leading producer, Mount Gibson Iron. From the Herald Sun:

Shougang – China’s fourth-largest steelmaker – holds an 18.05 per cent stake in Hong Kong-based APAC, which in turn owns 20.2 per cent of Mount Gibson.

If Shougang and APAC are found to be acting together, they could be required to launch a formal takeover bid as their combined stake exceeds the threshold set out in the corporations law.

SUPPORT CDT

CDT on Twitter

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.