Minter Ellison is advising Chinese state-owned Baosteel Group Corp. on a $1.3 billion bid for Perth-based mining company Aquila Resources Ltd.
The deal will give Baosteel, a leading iron and steel producer in China, access to Aquila’s 50 percent share in iron ore and coking coal projects in Western Australia and Queensland, respectively. Australian haulage company Aurizon Holdings Ltd., which has joined Baosteel on the bid, will help to develop rail and port infrastructure for the iron ore project.
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