Merger integrates Balmoral iron plan

摘要

JUST TWO MONTHS after billionaire Clive Palmer's investment vehicle Resource Development International Ltd (RDI) announced its intention to acquire Australasian Resources Ltd and develop its vast iron ore tenements in the Pilbara region of Western Australia, the merger deal was signed. The 972 million dollars scrip bid marks one of the first steps by RDI to transform itself into a resources major, after having already struck an alliance with MEO Australia Ltd over its gas licences off WA's coast. RDI was formed to acquire substantial iron ore, nickel, exploration and energy interests, including the rights to extract 20 billion tonnes of iron ore from the Balmoral tenements held by Mineralogy Pty Ltd. '