Sinosteel Takes Purchase in Australia’s Midwest Corporation

On the 15th September 2008, Sinosteel Corporation official take today that it now holds a controlling stake of 98.52% of Midwest. This marks Sinosteel initiated a comprehensive tender offer came to an end to Midwest Co since the 14th March.Midwest Corporation is an ASX-listed MIS organization developing iron ore and steel materials projects from one of the largest land holdings in the expanding mid west resources region of WA.

The success of this acquisition will upgrade the international influence and market competitiveness of Chinese state-owned, conducive to promoting Sino-Australian economic and trade cooperation between the two countries, conducive to scientific development of effective local mineral resources of Western Australia, conducive to the promotion of local economic development.