MFC, Alberici Take Over Distressed Iron Ore Mine

Law360, New York (January 4, 2012, 4:37 PM EST) -- Commodities delivery company MFC Industrial Ltd. and construction firm Alberici Group Inc. have taken over a distressed iron ore mine in Missouri that had been bogged down by contractual disputes over ownership rights, MFC said Wednesday.

MFC and Alberici, which already had interests in the Pea Ridge Iron Ore Mine, plan to use their ownership rights to reopen the site's underground mine, Vancouver, British Columbia-based MFC said in a statement. The company did not disclose the terms of the deal or name the previous owner, though...
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