Grange Seeks To Hand Off Stake In $3B Aussie Ore Mine

Law360, New York (June 20, 2012, 3:27 PM EDT) -- Grange Resources Ltd., Australia's top magnetite producer, is looking to unload a minimum 30 percent chunk of its AU$2.89 billion (US$2.94 billion) Southdown project in Western Australia, according to a Wednesday announcement.

The decision coincides with Grange hiring Deutsche Bank AG as a general corporate adviser to help it weigh “a number of options” the Australian company said it is considering to finance the project, which will entail the building and operation of an iron ore mine and desalination plant, as well as the expansion of...
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