View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
October 15, 2009

BHP in Rumoured Talks With Junior Miner

BHP Billiton is said to be in negotiations to purchase iron ore junior miner United Minerals for nearly $220m. BHP is believed to have made an offer of $1.40 a share for United, a 50% premium to the 92 cents latest share price, according to a report in The Australian. U

By cms admin

BHP Billiton is said to be in negotiations to purchase iron ore junior miner United Minerals for nearly $220m.

BHP is believed to have made an offer of $1.40 a share for United, a 50% premium to the 92 cents latest share price, according to a report in The Australian.

United’s shares last week went into a trading halt. This was transformed to a suspension when a variation of control transaction could not be bedded down in time.

It is not certain whether the $1.40 offer will be increased or decreased during talks if a deal is finalised.

BHP ‘s iron ore output seems to have recovered following a revamp of its safety systems due to the five deaths that occurred at its West Australian operations last financial year.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology