SYDNEY: Australian miner Murchison Metals Ltd made a A$987mil (US$889mil) bid for rival Midwest Corp Ltd as it seeks to fast-track development of a major iron ore deposit to meet booming steel demand.
Murchison, in partnership with Mitsubishi Corp, wants to build railways and a port from scratch to tap the vast reserves of iron ore in Western Australia’s midwest region, where both it and Midwest operate.
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