Hancock miner Hancock Prospecting , owned by Gina Reinhart , Australia 's richest woman, has made a bid for junior iron ore miner AUD280m from Mineral Resources , valuing the firm at Port Hedland ( $288m ). "The Hancock Group iron ore interests produce iron ore products that are priced off the 62 per cent index. The unconditional cash offer was made through Redstone , a subsidiary of Hancock Prospecting , and follows a recent share purchase that took its stake in Atlas to almost 20% days after rival firm Atlas Iron did the same. Atlas 's bid also comes after an offer of AUD280m from Mineral Resources in April . Fortescue CEO Elizabeth Gaines said the company would "continue to assess our strategic options".
Hancock miner Hancock Prospecting , owned by Gina Reinhart , Australia 's richest woman, has made a bid for junior iron ore miner AUD280m from Mineral Resources , valuing the firm at Port Hedland ( $288m ). The unconditional cash offer was made through Redstone , a subsidiary of Hancock Prospecting , and follows a recent share purchase that took its stake in Atlas to almost 20% days after rival firm Atlas Iron did the same. Atlas 's bid also comes after an offer of AUD280m from Mineral Resources in April . Fortescue CEO Elizabeth Gaines said the company would "continue to assess our strategic options".