September 19, 2013
Swiss-based Ferrexpo has acquired a 14.4% stake in Ferrous Resources, which
Swiss-based Ferrexpo has acquired a 14.4% stake in Ferrous Resources, which operates in Brazil’s Minas Gerais, for about $80m, it says. Ferrexpo has operations in Ukraine and has acquired the stake between January and September this year, it says. Ferrous Resources has permission to expand production to 15m tons per annum, Ferrexpo notes, adding that the buyer can put its marketing knowledge and iron ore expertise to work with the acquisition.