SHANGHAI, March 23 The chairman of China's
Hanlong Mining, which is bidding for Australia's Sundance
Resources Ltd, is under police investigation for
harbouring his brother before the latter's arrent on sucpicion
of murder, local media reported on Saturday.
Liu Han was detained this week along with family members,
according to local media reports. The official Xinhua news
agency, quoting police sources, said on Saturday he was being
investigated for possibly shielding evidence, among other
"serious" criminal offences.
Sundance said on Wednesday it was not confident Hanlong
would meet a deadline to prove financing for its $1.4 billion
takeover bid after Han's reported detention.
Liu's younger brother, Liu Yong, is being investigated in
relation to a triple homicide in 2009, according to local media
reports. He was recently arrested by the police, Xinhua said.
Officials at Hanlong could not be reached for comment.
Sundance has threatened to walk away from the long-delayed
deal if Hanlong misses any further milestones and is in talks
with other potential partners to develop its roughly $5 billion
Mbalam iron ore project on the border of Cameroon and the
Republic of Congo.
Hanlong launched its offer for Sundance in October 2011 but
last year cut its offer price by more than a fifth to A$0.45 per
share after Chinese regulators raised concerns about the cost
following a slide in iron ore prices.
China had wanted to develop its own iron ore mines to help
break the grip of mega miners Vale, Rio Tinto
and BHP Billiton.
(Reporting by Kazunori Takada and Steven Bian; Editing by Ron