Australian miner Atlas Iron backs billionaire Rinehart's $287m buyout offer

Australian miner Atlas Iron backs billionaire Rinehart's $287m buyout offer

FILE PHOTO: Trams pass by Melbourne's city skyline in Australia's second-largest city, June 13, 2017. REUTERS/Jason Reed/File Photo

Australian iron ore miner Atlas Iron on Friday endorsed a A$390 million ($287 million) buyout from billionaire Gina Rinehart’s Hancock Prospecting, taking the mining heiress closer to gaining access to a key port in west of the country.

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