mineral exploration project – commodity prices – mining stock- trade and market

The Australian Competition and Consumer Commission has set itself an April 28 deadline for ruling on the $US116 billion ($127bn) West Australian iron ore merger between BHP Billiton and Rio Tinto, a delay of two months on its target.

Last month, the ACCC said it had delayed its findings on the merger and had requested more information from BHP and Rio.

NMDC Ltd., India’s biggest iron-ore producer, has teamed up with ABS Consulting of Saudi Arabia and Boulder Steel Ltd. to make a $230 million bid for a stake in an Australian iron-ore project owned by Atlas Iron Ltd.

A non-binding offer has been pitched to Atlas Iron for a 70 percent stake, which may be the Ridley project in Western Australia, the Economic Times reported, citing a person it did not name.