Haoning agrees to buy 9.55% stake in Australia's Jupiter Mines
8 May 2008
Chinese iron ore trader Haoning Group will take nearly 9.55% in Australia's iron ore prospector Jupiter Mines, Reuters reported. Haoning will pay US$3.5 million for 14.8 million Jupiter shares at A$0.25 (US$0.24) a share. Haoning is hoping to secure long-term supplies of raw materials and wants to get involved in Australia's iron ore prospecting industry, Reuters said. The firm is also in talks to buy a stake in another Australian miner, Brockman Resources.
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