Fortescue to Buy Red Hawk Mining to Tap Western Australia Ore

Bloomberg

01-28

(Bloomberg) -- Fortescue Ltd. plans to buy Red Hawk Mining Ltd. to gain access to an undeveloped iron ore mine near its major Solomon project in Western Australia.

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The offer price of as much as A$1.20 cash per share implies a fully diluted equity value for Red Hawk of A$254 million ($160 million), the world’s fourth-largest iron ore miner said Tuesday. Red Hawk closed at A$0.82 on Friday.

“Red Hawk is the owner of the Blacksmith Iron Ore Project, which is an undeveloped iron ore project located 30 kilometers (19 miles) west of Fortescue’s Solomon operations in the Western Hub,” the company said.

The project has a mineral resource estimate of 243 million tons of iron ore. The move reinforces Fortescue’s growth strategy in the steelmaking ingredient even as demand softens.

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Billionaire Developer Caruso Slams LA Leadership Over Wildfires. Budapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’。The offer price of as much as A$1.20 cash per share implies a fully diluted equity value for Red Hawk of A$254 million , the world’s fourth-largest iron ore miner said Tuesday. Red Hawk closed at A$0.82 on Friday.“Red Hawk is the owner of the Blacksmith Iron Ore Project, which is an undeveloped iron ore project located 30 kilometers  west of Fortescue’s Solomon operations in the Western Hub,” the company said.The project has a mineral resource estimate of 243 million tons of iron ore. The move reinforces Fortescue’s growth strategy in the steelmaking ingredient even as demand softens.Forget Factorie","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FMG.AU":"FORTESCUE LTD","XKO.AU":"标普/澳交所 300指数","WRN":"西方铜金","BK7507":"资源股","XAO.AU":"标普/澳交所 普通股指数","BK7129":"钢铁","XJO.AU":"标普/澳交所 200指数","BK4168":"多种金属与采矿"},"translate_title":"Fortescue将收购Red Hawk Mining以开采西澳大利亚矿石","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FMG.AU":1,"WRN":1,"XAO.AU":1,"XJO.AU":1,"XKO.AU":1},"content_text":"(Bloomberg) -- Fortescue Ltd. plans to buy Red Hawk Mining Ltd. to gain access to an undeveloped iron ore mine near its major Solomon project in Western Australia.\nMost Read from Bloomberg\n\nWhat Happened to Hanging Out on the Street?\nVienna Embraces Heat Pumps to Ditch Russian Gas\nTexas HOA Charged With Discrimination for Banning Section 8 Renters\nBillionaire Developer Caruso Slams LA Leadership Over Wildfires\nBudapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’\n\nThe offer price of as much as A$1.20 cash per share implies a fully diluted equity value for Red Hawk of A$254 million ($160 million), the world’s fourth-largest iron ore miner said Tuesday. Red Hawk closed at A$0.82 on Friday.\n“Red Hawk is the owner of the Blacksmith Iron Ore Project, which is an undeveloped iron ore project located 30 kilometers (19 miles) west of Fortescue’s Solomon operations in the Western Hub,” the company said. \nThe project has a mineral resource estimate of 243 million tons of iron ore. The move reinforces Fortescue’s growth strategy in the steelmaking ingredient even as demand softens. \nMost Read from Bloomberg Businessweek\n\nWhat Trump’s Tech Billionaires Are Buying\nForget Factories, Small US Towns Want Buc-ee’s Gas Stations\nThe CDC Won’t Give the Public a Full Picture of Fertility Treatment Risks\nElon Musk’s Inaugural Highs (and Lows)\nHow Kendrick Lamar Turned Beef With Drake Into Music Superstardom\n\n©2025 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1}}}