Ukrainian miner Ferrexpo announced on 18 September that it had acquired a partial interest in Brazilian iron producer Ferrous Resources for a total consideration of US$80 million. The deal includes a 14.4% stake in Ferrous' active mining operations, development projects, reserves and resources. The purchase price is nearly in line with our valuation of US$78.6 million for 14.4% interest in Viga and Esperança, Ferrous Resources' only currently producing assets, and thus we believe the deal...
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Insight | Sep 2013
Ferrexpo acquires $80 million stake in Brazil's Ferrous Resources
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