Cliffs buying Canadian chromite deposits
Nov 23, 2009 | 08:06 AM
| Tom Jennemann
Cliffs Natural Resources Inc. has agreed to buy the "Ring of Fire" chromite properties of Freewest Resources Canada Inc.
Cleveland-based Cliffs will acquire interests in three chromite deposits—100 percent of Black Thor and Black Label and 50 percent of Big Daddy—in northern Ontario and spin off Freewest's non-chromite assets into a new company called New Freewest run by Freewest's board and management.
Montreal-based Freewest values the deal at Canadian $150.6 million ($142.8 million), or C70 cents (66 cents) per Freewest share. Completion of the transaction is subject to approval by Freewest shareholders and court approval.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here