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Fortescue Metals Group has launched a bid to acquire Red Hawk Mining for approximately A$254 million.
Fortescue Metals Group has launched a bid to acquire Red Hawk Mining for approximately A$254 million. The acquisition will provide Fortescue access to an undeveloped iron ore mine near its Solomon project in Western Australia. The deal includes an offer of A$1.05 per share, with a potential increase to A$1.20 per share if it secures a 75% stake. This move aligns with Fortescue’s strategy to expand its iron ore operations in the Pilbara region.