Mineral Resources completed the acquisition of 40% stake in Red Hill Iron Ore from Red Hill Iron for $295.6m.

Mineral Resources, a Perth-based mining services provider, completed the acquisition of 40% stake in Red Hill Iron Ore from Red Hill Iron, an Australia-based mineral exploration company, for $295.6m. The acquisition of the RHIOJV interest aligns with MRL’s strategy to expand its resource inventory around the Company’s Ashburton Hub to underpin a long-term, sustainable iron ore export business.