China’s Hanlong makes $1.5 billion bid for Sundance

China’s Sichuan Hanlong Group made a bid to buy out the shares it doesn’t already own in West African iron ore exploration company Sundance Resources, valuing the private conglomerate at A$1.4 billion ($1.5 billion).

Last week, Hanlong, which is seeking to expand its reach in global resources, launched a A$144 million takeover bid for Bannerman Resources, which is looking for uranium in Namibia.

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