Cleveland-based M.A. Hanna Co. is negotiating with Mitsubishi Corp. to sell to the Japanese company a 20% interest in Iron Ore Co. of Canada of Montreal. Hanna has an approximate 28% stake in Iron Ore which operates in Quebec and Labrador. Hanna is offering to sell 20% for US$66 million and would give Mitsubishi a 1-year option to acquire the remaining 8.14% interest. Iron Ore has a number of other owners, including Bethlehem Steel and Dofasco of Hamilton, Ont.
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