London Mining Plc rose the most in two weeks in Oslo trading after the company doubled its estimated iron-ore resources in Brazil and a newspaper reported Tata Steel Ltd. may pay $2 billion to buy the assets.

The shares advanced 9.4 percent, the biggest gain based on closing prices since April 23. Tata Steel may buy the assets to secure raw materials for its Corus Group Plc unit, India’s Business Standard reported today.

London Mining climbed 2.9 kroner to 33.9 kroner on the Oslo Stock Exchange, boosting the company’s market value to 3.3 billion kroner ($645 million).

The company boosted the estimated iron-ore resources at its wholly owned mine in Brazil to 598.8 million metric tons, compared with a previous estimate of 266.3 million tons, according to a statement distributed by Hugin.

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