Chinese steelmaker Sinosteel is proposing a cash takeover offer for iron ore miner Midwest Corporation Ltd that values the target at $5.60 per share, well above Murchison Metals Ltd's floundering scrip offer.
The door to billions of investment dollars from China’s second largest iron ore trader, Sinosteel Corp, is open to Western Australian miners and explorers as the company’s quest to secure long-term supplies gathers momentum.
