Iron ore miner Grange Resources has called time on its misadventure into luxury property development as it struggles to sell the ritzy apartments it built in Melbourne’s most exclusive suburbs.
Grange stunned shareholders in 2018 when it announced it was diversifying its business beyond its lucrative iron ore mine in Tasmania and into luxury apartment projects aimed at downsizing Baby Boomers.
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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
