HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Boxterfan

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Almost OT. But very relevant to NOT/Baosteel

in response to

Fed's working with Provincial Gov't and Industry

Babjak1

posted on May 09, 2011 01:54PM

Cliffs gets OK from Chinese regulator for Consolidated Thompson deal

The Canadian Press, On Monday May 9, 2011, 12:42 pm EDT

By The Canadian Press

MONTREAL - Cliffs Natural Resources Inc. (NYSE:CLF) said Monday that the Chinese Ministry of Commerce has signed off on its deal to buy Consolidated Thompson Iron Mines Ltd. (TSX:CLM).

The Chinese OK was the last regulatory approval needed for the deal, the company said.

Earlier this year, Cliffs offered C$17.25 in cash for each common share of Consolidated Thompson, a friendly takeover that values the company at about $4.9 billion.

The U.S. mining company has signed a support agreement with Consolidated Thompson's largest shareholder, Wuhan Iron and Steel of China.

The Chinese company owns nearly 19 per cent of Consolidated Thompson.

Cliffs said it expects to close the deal on Thursday.

Consolidated Thompson stock was up 16 cents at $17.23 at midday Monday on the Toronto Stock Exchange

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