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...
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