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Liberty House bids to buy iron ore assets in Minnesota
April 25, 2017 / 5:51 PM / 8 months ago

Liberty House bids to buy iron ore assets in Minnesota

(Reuters) - British metals group Liberty House is bidding to buy U.S.-based Mesabi Metallics Co LLC and ESML Holding Inc, as it seeks to boost its presence in North America.

Sanjeev Gupta, executive chairman of Liberty House Group, poses for a photo at the companyÕs Dubai office, UAE June 19, 2016. REUTERS/David French

The bid is being made by GFG Alliance, a group that includes Liberty House and resources and energy firm SIMEC Group, GFG Alliance said on Tuesday.

The assets being bid for include a 7 million tonnes-a-year iron ore pellet plant in Nashwauk, Minnesota that has the potential to produce up to 14 million tonnes a year, GFG Alliance said.

London-based Liberty said last week it agreed to buy the Georgetown Steelworks plant from Arcelor Mittal ISPA.AS in its first major U.S. acquisition.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar

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