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Ellison in $400m bid to rouse iron ore’s sleeping giant

Peter Ker
Peter KerResources reporter
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Rich lister Chris Ellison will spend at least $200 million bolstering his plan to build a major new iron ore province in Western Australia, under an acquisition lobbed on Friday night.

Ellison’s company Mineral Resources has agreed to pay $200 million up front for a 40 per cent stake in a large package of undeveloped iron ore tenements in the West Pilbara.

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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
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    Original URL: https://www.afr.com/companies/mining/ellison-in-400m-bid-to-rouse-iron-ore-s-sleeping-giant-20210730-p58emn