Baosteel iron ore bid re-examined

Baosteel Group Co, China's largest steelmaker, has been asked by the Australian government to resubmit its application to invest $240 million for a 15-percent stake in iron ore explorer Aquila Resources Ltd, the Australian media reported.

According to the Australian Financial Review, Baosteel resubmitted its application as requested by the Foreign Investment Review Board (FIRB) this week but it did not make it clear why the request was made.

Baosteel could not be reached for comment during China's national holiday.