Forrest Cart Before The Allied Ore Horse

Andrew Forrest, the Perth entrepreneur best known for his controversial time at the helm of Anaconda Nickel, yesterday confirmed he has his sights set on the iron ore of Western Australia's Pilbara region. Tiny WA outfit Allied Mining & Processing has reached a memorandum of understanding with Mr Forrest's Metal Holdings, the private company which recently offloaded a sizeable Anaconda stake during a failed takeover bid from US vulture fund MatlinPatterson Global.