日韩欧美一级特黄大片_日本在线不卡一区二区_91精品国产免费久久久久久婷婷_亚洲av中文aⅴ无码av男同_欧美黄色网址观看互动交流

"Our target is to be one of the world's largest iron ore producing companies," Gordon Toll, executive chairman, said on Monday.

Ferrous raised more than $1bn privately in 2007 and 2008 and used the cash to buy five iron ore projects in the "iron quadrangle" area of Brazil. The group said it planned to mine 25m tonnes of iron ore a year by the end of 2013, rising to 65m tonnes by 2016. Ferrous has five assets in Minas Gerais, the largest iron ore producing region in Brazil, and one mine in Bahia state. Total resources are 4.5bn tonnes of iron ore.

The company said that the main board listing of the shares will be a mix of new shares and shares sold by existing shareholders. The group plans to raise $350m-$400m to fund its investment plans and it expects to list 25pc of the group or more.

"The group intends to use the proceeds from the offer towards the development of the group's Minas Gerais properties in preparation for large-scale iron ore production" Ferrous said, as well as building a port and pipeline infrastructure.

JP Morgan Cazenove is sponsor for the offering and Deutsche Bank and Morgan Stanley are acting as joint global co-ordinators.

Sourced from www.telegraph.co.uk