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Aussies spurn Chinese in mega-mining deal

Posted By Tom Jackson On June 5, 2009 @ 9:45 am In Construction News | No Comments

Chinese mining company Chinalco was left standing at the altar after Rio Tinto decided to do a deal with BHP Billiton [1] instead. The deal would have been China’s single largest off-shore investment and given the Asian giant a dependably priced source of iron ore to fuel its industrial growth.

The Chinese do a lot of business with resource-rich Australia, but some Aussies have expressed fears that the Chinese may be in a position to exert undue influence in Australian politics. And the Japanese and Indians [2]are not all that happy with the two becoming powerful allies either.  As incomes and prosperity continue to rise in these once third-world countries, such resource conflicts are only bound to intensify.

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URLs in this post:

[1] Rio Tinto decided to do a deal with BHP Billiton: http://www.forbes.com/2009/06/05/rio-bhp-alliance-markets-equity-chinalco.html

[2] Japanese and Indians : http://www.csmonitor.com/2008/0607/p05s01-woap.html

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