Courtesy of Benzinga.
BHP Billiton (NYSE: BHP), the world’s largest mining company, is rumored to be mulling a $3.16 billion offer for Brazil’s Ferrous Resources, according to a report in the Sunday Times of London. The paper did not say where it obtained the information.
BHP, one of the world’s largest iron ore producers, reportedly initiated talks with Ferrous Resources, which also makes iron ore, earlier this year and the would consider buying a stake in the Brazilian firm, the Times said.
BHP Billiton declined to comment on the rumor.
In 2011, BHP, often one of the most acquisitive mining companies in the world, paid $4.75 billion for 487,000 Fayetteville Shale acres that previously belonged to Chesapeake Energy (NYSE: CHK). In August, the company acquired Petrohawk Energy for $12.1 billion to add to its U.S. shale acreage.
Recently, the Anglo-Australian mining giant was rumored to be interested in Alabama-based coal producer Walter Energy (NYSE: WLT).
