China Moly finally comes clean on Northparkes bid

Sarah Thompson, Anthony Macdonald and Gretchen Friemann

Jul 31, 2013 – 12.31am

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Delays at the Hong Kong Stock Exchange held up China Molybdenum ’s $US820 million ($887.3 million) acquisition of Northparkes , but the suitor finally announced the purchase late on Tuesday.

While Rio Tinto announced the deal on Monday, China Moly went into a five-day trading halt and could not speak publicly about the deal or conditions attached to its bid.