皇冠体育app

(Xinhua)
Updated: 2008-02-08 14:27

皇冠体育app Shenhua Energy and 皇冠体育app Investment Corp have talked with Australia's third largest iron ore mine company to buy its stake worth $2 billion, an insider with 皇冠体育app Shenhua was quoted as saying.

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The plan to buy 15.85 percent of Australia's Fortescue Metals (FMG) was still at an early stage, the anonymous source from 皇冠体育app's largest coal producer told Shanghai-based Oriental Morning Post.

FMG will use the capital for mine exploitation, said the source.

Harbinger Capital, FMG's second-largest shareholder, may sell its stake to 皇冠体育app investment and Shenhua, according to an earlier report by the South 皇冠体育app Morning Post. Fortescue founder John Andrew Forrest is the biggest owner of the company, with 35.97 percent.

FMG is the world's fourth largest iron ore producer.

The likely bid for Fortescue came after Friday's announcement by another State-owned resources company, Aluminium Corporation of 皇冠体育app Ltd (皇冠体育applco), the country's largest aluminum company, which acquired a 12-percent stake in British mining giant Rio Tinto PLC along with US Alcoa Inc.