{"id":6958,"date":"2012-01-11T20:34:53","date_gmt":"2012-01-11T18:34:53","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-2-exxaro-launches-349-mln-bid-for-african-iron\/"},"modified":"2012-01-11T20:34:53","modified_gmt":"2012-01-11T18:34:53","slug":"update-2-exxaro-launches-349-mln-bid-for-african-iron","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-exxaro-launches-349-mln-bid-for-african-iron\/","title":{"rendered":"UPDATE 2-Exxaro launches $349 mln bid for African Iron"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds Exxaro comments, analyst, updates shares)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Exxaro aims to secure 75 percent acceptance<\/p>\n<p><span><\/span><\/p>\n<p>* Exxaro seeking operational exposure in iron ore<\/p>\n<p><span><\/span><\/p>\n<p>* African Iron shares jump after news on deal<\/p>\n<p><span><\/span><\/p>\n<p>Jan 11 (Reuters) &#8211; South African diversified miner<br \/>\nExxaro Resources made a bid worth up to A$338 million<br \/>\n($349 million) for African Iron, targeting the<br \/>\nAustralian-listed company&#8217;s Mayoko iron ore project in the<br \/>\nRepublic of the Congo.<\/p>\n<p><span><\/span><\/p>\n<p>The cash offer of up to A$0.57 a share sent African Iron&#8217;s<br \/>\nshares up, to close 40 percent higher at A$0.56 on Wednesday,<br \/>\nindicating investors expect the deal to go through.<\/p>\n<p><span><\/span><\/p>\n<p>Exxaro, South Africa&#8217;s second-largest coal producer and a<br \/>\nmajor supplier to power utility Eskom, is scouting Africa and<br \/>\nAustralia for projects to expand into other commodities,<br \/>\nespecially iron ore and also copper.<\/p>\n<p><span><\/span><\/p>\n<p>Exxaro said Africa Iron&#8217;s assets would provide it with an<br \/>\nopportunity to meet its objective of gaining exposure in iron<br \/>\nore. It believed the deal would go through.<\/p>\n<p><span><\/span><\/p>\n<p>Last year, Exxaro&#8217;s $130 million bid for Australia&#8217;s<br \/>\nTerritory Resources was trumped by Noble Group, but<br \/>\nthe company said it remained keen to buy iron ore assets and<br \/>\neventually to produce 10 million tonnes a year of the key<br \/>\ningredient for steel-making.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds Exxaro comments, analyst, updates shares) * Exxaro aims to secure 75 percent acceptance * Exxaro seeking operational exposure in iron ore * African Iron shares jump after news on deal Jan 11 (Reuters) &#8211; South African diversified miner Exxaro Resources made a bid worth up to A$338 million ($349 million) for African Iron, targeting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6958","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6958"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6958\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}