Hong Kong's Wah Nam International will move to compulsorily acquire Brockman Resources after securing 98.12 per cent of the iron ore explorer's issued capital by the close of its long-running takeover offer yesterday.

Wah Nam, which has an ASX-listing as well as a Hong Kong listing, said it looked forward to transforming the Marillana project in the Pilbara from an exploration project to the implementation stage and ultimately to production.

Wah Nam initially launched its bid for Brockman, and a simultaneous tilt for another Pilbara iron ore play, FerrAusback, in November 2010.