Rhône Group LLC is reportedly seeking acquisition of Moly-Cop division from Arrium Limited (ASX:ARI). Rhone Capital is the latest party to emerge as a shortlisted bidder for Arrium's grinding media business Moly-Cop, which may sell for up to AUD 2 billion. The field for Moly-Cop has narrowed to just five parties.

Sigdo Koppers S.A. (SNSE:SK) is also on the short-list, along with TPG Capital, L.P. and The Blackstone Group L.P. (NYSE:BX). It is understood the other party that remains in the running is a global trade buyer. Sigdo Koppers was seen as a strong contender for Moly-Cop, given that it had the synergies, local knowledge and financing, one source said.