Kenmare takeover bid is unlikely to succeed

The bid to buy Dublin-based mining company Kenmare Resources is unlikely to succeed, but could encourage more bids to gain control of its lucrative African titanium mine.

29th June, 2014

The bid to buy Dublin-based mining company Kenmare Resources is unlikely to succeed, but could encourage more bids to gain control of its lucrative African titanium mine, according to mining industry sources.

The all-share bid from Iluka Resources values Kenmare at about $700 million. But given that the company has spent an estimated $1 billion on developing the mine to date, the bid is unlikely to succeed, not least because Kenmare's biggest shareholder appears to...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago