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Home Steel News CKI to acquire BlueScope's Tharoa iron business
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CKI to acquire BlueScope's Tharoa iron business

29 Aug 2008 15:39 reported by Tim Wang

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Australia-based BlueScope announced to sell its New Zealand iron sands mining and export operation, the Taharoa Iron Sands Business to Hong Kong's Cheung Kong Infrastructure Holdings Limited (CKI), with total amount US$174 million.

Taharoa belongs to NZ Steel Mining and mainly produces and exports iron sand to China and Japan, with annual output 850,000 tons.

The acquisition is due to be completed by this fourth quarter. CKI has confidence in this deal and the instant profits this acquisition will bring.

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