Mineral Resources has agreed to allow takeover target Atlas Iron to enter discussions with other parties, one day after the Andrew Forrest-chaired Fortescue Metals Group purchased a blocking stake in the junior iron ore miner.
Andrew Forrest-chaired Fortescue Metals Group has taken a surprise 19.9 per cent stake in Atlas Iron, and says it will block the $280 million takeover proposed by diversified mining services business Mineral Resources.
Perth-based engineering firm Primero Group has appointed company director Mark Connelly as chairman and broking firm Cannacord Genuity as lead manager as its finalises plans for an initial public offering.
Two local gold miners have announced equity investments in junior explorers today, with Resolute Mining investing $22.5 million in Canadian company Orca Gold while Westgold Resources has taken a 15 per cent stake in Musgrave Minerals.
Sydney-based investor Rob Nichols has teamed up with Singapore-based investment fund GIC to buy the assets of Perth company National Lifestyle Villages following a review led by Sirona Capital director Kelvin Flynn, who has run NLV since October last year.