United Minerals

Most of the directors in United Minerals Corporation have cashed in their options as part of a $204 million takeover deal with BHP Billiton. Five of the nine directors last week netted a combined $1.4 million from a total of 3.6 million options after acce

Shares in United Minerals Corporation have surged after BHP Billiton confirmed a $204 million takeover for the company.

Shares in Perth-based United Minerals Corporation have been placed in a trading halt pending an announcement over a potential change of control.

Shares in United Minerals Corporation have climbed higher after the Perth-based company announced it had increased its Pilbara iron ore resource, boosting its confidence of production in early 2011.

United Minerals Corporation Ltd has announced that a placement of five million ordinary shares at $1.75 per share to raise $8.75 million was finalised on Friday morning.

Perth-based exploration company United Minerals Corporation Ltd has reached a memorandum of understanding with Norwegian aluminium producer Norsk Hydro to assess development of a $4-5 billion bauxite mine and alumina refinery in the Kimberley region.