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Johannesburg - Miner Metorex [JSE:MTX], which is a $1.1bn target for Brazil's Vale, said on Friday it has received an interest from another party to acquire the company.
"The expression of interest provides for certain pre-conditions to be met before the alternate party will be prepared to express a firm intention to make an offer," the company said in a statement.
Metorex added that there was no certainty that it will receive a firm intention to make an offer from the party.
Vale, the world's largest iron ore producer, has bid $1.1bn for Metorex to tap into its copper and cobalt operations and drive growth via resource-rich Africa.
Metorex said in April that if there were any other serious offers to acquire it aside from one launched by Vale it would have to consider them.
"The expression of interest provides for certain pre-conditions to be met before the alternate party will be prepared to express a firm intention to make an offer," the company said in a statement.
Metorex added that there was no certainty that it will receive a firm intention to make an offer from the party.
Vale, the world's largest iron ore producer, has bid $1.1bn for Metorex to tap into its copper and cobalt operations and drive growth via resource-rich Africa.
Metorex said in April that if there were any other serious offers to acquire it aside from one launched by Vale it would have to consider them.
