After two months of examination, Australias FIRB finally approved on October 29 Baosteels acquisition of no more than 19.99 percent of shares in Aquila, an Australian resource supplier publicly listed on the Australia Stock Exchange (ASX), and allowed the mill to appoint one director to the board of the Australian mining producer. According to a deal reached on August 28, Baosteel intends to buy a 15 percent stake in Aquila for A$285 million (about 1.78 billion yuan), alongside sales guarantee to the Chinese market and financing packages. The Australian miner, whose share price closed at A$7.18 per share on October 30, wants to become a diversified supplier of steel raw materials, centering on coking coal, iron ore and manganese.