Must read Fairfax story on NSW resources industry

The minister the money and the mine. How a rotten deal was hatched – If journalists know of any unlawful acts by anybody then they should report those to the police. I see that half way down the article switches to the buying of a SA winery by Chinese interests and touches on the leasing of Darwin Port to a Chinese group which should never have been approved by Govt. Can I just mention that the NSW Resources Dept has this www page under “Investors” detailing a wide range of projects where the owners/explorers are open to Joint Venture or outright sale. So any company asking the Resources Dept or Minister about buying “…any metal mine (gold, iron, etc.) As long as the exploration is done…” should have been pointed to the above www page – simple.
Of course once you have read the first half of this story re NSW resources – spare a few moments to think about the experience of Shenhua who in 2008 bought a coal orebody from the NSW Govt and a decade later still are little close to having a mine despite spending a lazy ~$Bn. So what big Chinese – or any other nationality – resource group would go near NSW without counting their fingers very carefully? I blogged twice on Shenhua.

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February 5, 2018 at 01:04AM

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