Tiny Russia Investor Upends Mining Deal

Shareholders in Australia's Flinders Mdiy aggregate crusher process flow chartines are getting a crash course in doing business in Russia, especially when Elena Egorova is involved.

After receiving a 554 million Australian dollar takeover bid from Russia's Magnitogorsk Iron & Steel in November that looked all but certain to go ahead, the deal is on the brink of collapse after a minority shareholder in the Russian steelmaker blocked the takeover earlier this month. That sent shares in the Australian iron ore miner tumbling 16% when they resumed trading Monday. The drama began in Chelyabinsk, a remote Russian city close to the border with Kazakhstan that is Magnitogorsk's base. A judge there ruled that a shareholder named Elena Egorova would be hurt if the deal went through and on Thursday refused to lift an injunction that blocked the deal. Ms Egorova, about whom little in known, says the purchase of Flinders could lead to new risks for Magnitogorsk that could...