Grange shareholders urged to back merger
Posted
Shareholders with Grange Resources, which wants to mine iron ore on Western Australia's south coast, are being urged to approve a merger with a Chinese-backed company.
In September, Grange announced plans to merge with the Chinese consortium Australian Bulk Minerals.
Grange chairman Anthony Bohnen says if the merger goes ahead, the company will have enough money to get its Southdown project at Wellstead, east of Albany, off the ground.
He has written to shareholders, ahead of the company's annual general meeting in Perth in a fortnight, urging them to support the merger
Grange shareholders will own 23.3 per cent of the larger company if the deal goes ahead.
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