[miningmx.com] — METOREX, which is a $1.1bn target for Brazil’s Vale, said on Friday it has received an interest from another party to acquire the company.
“The expression of interest provides for certain pre-conditions to be met before the alternate party will be prepared to express a firm intention to make an offer,” the company said in a statement.
Metorex added that there was no certainty that it will receive a firm intention to make an offer from the party.
Vale, the world’s largest iron ore producer, has bid $1.1bn for Metorex to tap into its copper and cobalt operations and drive growth via resource-rich Africa.
Metorex said in April that if there were any other serious offers to acquire it aside from one launched by Vale it would have to consider them.
