NCZ Investments Pty, a Fortescue unit, seeks interim orders to restrain Gina Rinehart controlled-Redstone Corp Pty from dispatching its bidder's statement.
Hancock Prospecting Mining News
The company's withdrawal means all eyes are now on Fortescue, which still has a 19.9%-stake in Atlas and has not yet disclosed whether it plans to launch a rival bid or sell its holding into Hancock’s offer.
The offer from Australian billionaire Gina Rinehart's Hancock Prospecting values Atlas shares at 17% more than price reached at Friday close.
Back in September, the expectation for 2018 was of $488 million in revenues from industrial mining.
Higher commodity exports delivered a record trade surplus of $3.5 billion in December, the second monthly trade surplus Australia has recorded in nearly three years.
Ecuador began last month granting licences for new exploration areas, with over 300 of them to be awarded by the year-end.
Sirius Minerals’ York mine is expected to be one of the world’s largest in terms of the amount of resources extracted, generating an initial 10 million tonnes of polyhalite per year.
The move comes about 17 months after her children — John Hancock and Bianca Rinehart — won control of the family fund.
BHP Billiton began evacuating workers from its Port Hedland export facilities early Friday.
The mining giant will have to pay her more than $200 million in royalties and court fees.
She lost control of the family trust, which holds almost 25% of iron ore miner Hancock Prospecting.
The country's richest woman has decided to back a junior miners' joint venture in Victoria.
The state government submitted an application to the federal government for 3mn m³ of dredging material to be disposed on land.
When Australia's richest person launched the ambitious $10 billion, 55m tonnes a year project iron ore was trading at more than $130 a tonne.