Chinese Win Control of Iron Ore Miner

The Chinese Government-backed firm Sinosteel has won control of West Australian iron ore miner, Midwest. From ABC News, Australia.

The steelmaker has told the Australian Stock Exchange it now owns 50.97 per cent of Midwest shares.

Sinosteel is offering Midwest shareholders $6.38 a share, valuing Midwest at $1.63 billion.

Last week, WA miner Murchison Metals abandoned its rival bid for Midwest, but says it will not relinquish its 10 per cent stake in the company to Sinosteel.

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

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.