Usmanov buys into Australian miner to develop iron ore in Peru
Published: 28 July, 2008, 09:11
Russian metals billionaire Alisher Usmanov has agreed to buy a 27 percent stake in Australian mining firm Strike Resources.
Gallagher holdings, Usmanov's investment company, will buy 37 million shares for AU$2.75 apiece. Approval will be sought from Strike shareholders and the Australian Foreign Investment Review Board before the purchase can be completed.
Strike will use the money raised to develop a 2.3 billion dollar iron ore project in Peru.
Last week, Russia's EVRAZ bought a stake in another Australian miner, Cape Lambert.
28.07.2008, 06:55
Light shines on small business as key to economic revival of ChechnyaThe Russian government plans to spend millions of dollars developing the Chechen republic. Government, international organisations and entrepreneurs met on Sunday in Piategorsk to give a futher boost to micro business projects. |
28.07.2008, 09:29
TNK-BP chief didn’t break any labour lawsTNK-BP CEO Robert Dudley did not break any labor laws according to Russian prosecutors. |
