IOH could be takeover target if Fortescue deal lapses

摘要

Australian explorer Iron Ore Holdings is likely to attract interest from nearby miners if Fortescue Metals Group lets its option to acquire the company's Iron Valley project lapse, a leading analyst told Platts Steel Business Briefing Tuesday. Fortescue, Australia's third-largest iron ore miner, paid IOH 25 million Australia dollars (26.4 million dollars) in February for a 13-month exclusive option on the Pilbara tenements, which lie next to Fortescue's 2 billion mt Nyidinghu deposit.