Mining giant BHP Billiton is expected to change its bid for rival Rio Tinto with a formal offer next Wednesday.
BHP must make a formal offer to Rio Tinto by next week to meet a deadline set down by the UK Takeover Panel, or leave it for six months.
In November last year, Rio Tinto rejected BHP Billiton's takeover bid - worth about US$140bn - as too low.
According to analysts, a successful combination of the companies would create a mining super-giant roughly the same size as Microsoft
Meanwhile, Rio Tinto has announced its coal mines in the Australian state of Queensland have restarted production after heavy rain disrupted operations.
The Kestrel mine, which had its mine access cut off by flooding, has resumed operations and is expected to reach full production this week, according to Australian media reports.
By staff writer
