M&A

Hanlong-backed Moly targets Gulf

AN INTERESTING battle to acquire bauxite developer Gulf Alumina has emerged with cashed-up Moly Mines, majority held by controversy-tainted Chinese company Hanlong, looking to trump long time suitor Metro Mining.

Michael Quinn
Hanlong-backed Moly targets Gulf

Earlier this week Metro reported taking out an $8.5 million unsecured loan to buy 17% of Gulf, taking its stake in the company to 39%. The consideration for the 17% stake valued Gulf at $50 million....

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