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".
Australian miner Hancock Prospecting, owned by Gina Reinhart, Australia's richest woman, has made a bid for junior iron ore miner Atlas Iron, valuing the firm at AUD390m ($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 Fortescue did the same. Hancock'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".