China Business News: Baosteel offers US$1.6 bln for 30% stake in Minas Rio iron mine

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Baosteel offers US$1.6 bln for 30% stake in Minas Rio iron mine

Oct. 6, 2009 (China Knowledge) - Baosteel Group, parent of Shanghai-listed Baoshan Iron and Steel Co<600019>, reportedly wants to invest US$1.6 billion in Anglo American Plc's Minas Rio iron ore mine in Brazil in exchange for a 30% stake, sources reported. A spokesman of the London-based mining and natural resource company said the firm is looking for a strategic investor to help develop th

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