China’s investments in Australian resources

TIMELINE-Chinese investments in Australian resources

“………….REUTERS, Sept 24, 2009 – Australia’s defence department opposes a proposed joint venture between Wugang Australia Resources, a wholly-owned subsidiary of state-owned Wuhan Iron and Steel (600005.SS: Quote, Profile, Research), and Australia’s Western Plains Resources (WPG.AX: Quote, Profile, Research). Defence officials said the project, inside a vast weapons testing area, would not be compatible with operational and national security. [ID:nSYD537945]

Sept 8, 2009 – Chinese state-owned power producer China Guangdong Nuclear Power Holding Co. Ltd agrees to a takeover bid for Australian uranium explorer Energy Metals (EME.AX)……….. June 17, 2009 – China’s Minmetals takes over most of the assets of Oz Minerals Ltd (OZL.AX: Quote, Profile, Research) for about $1.4 billion. [ID:nSYU006710]…………. May 1, 2009 – Chinese state-owned China Nonferrous Metal Mining Group (CNMC) agrees to take a majority stake in Australian rare earths miner Lynas Corp for A$252 million ($186 million), subject to government approval. [ID:nSYD454967]

March 31, 2009 – China’s Hunan Valin Iron and Steel Group lifts stake in Fortescue Metals Group (FMG.AX: Quote, Profile, Research) to 17.3 percent for total A$645 million

http://in.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idINSYD53769220090924

September 25, 2009 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business | antinuclear, Australia, nuclear