Who owns the mines in Australia? China?
#1
BE Enthusiast
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Joined: Feb 2006
Location: Perth since 1997
Posts: 590
Who owns the mines in Australia? China?
Whenever I open THE AUSTRALIAN, another miner is partly or fully sold to a Chinese based company.
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
#2
Lost in BE Cyberspace
Joined: May 2006
Posts: 6,600
Re: Who owns the mines in Australia? China?
Whenever I open THE AUSTRALIAN, another miner is partly or fully sold to a Chinese based company.
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
#3
Re: Who owns the mines in Australia? China?
Whenever I open THE AUSTRALIAN, another miner is partly or fully sold to a Chinese based company.
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
-not Australian. Does it make a difference-No
Seriously the Mines only own a right to mine, the resources are vested in the crown- hence royalties
I will agree that the Chinese ability to buy and lock up resources for their benefit is a very different case-but at the moment this is not happening.
Last edited by mulben; Mar 12th 2010 at 12:43 am.
#4
Re: Who owns the mines in Australia? China?
Whenever I open THE AUSTRALIAN, another miner is partly or fully sold to a Chinese based company.
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
BHPB is Anglo-Australian as Billiton moved their HQ from SA to the UK.
Rio is essentially a British company.
Canadia, US and Switzerland are also heavily involved.
As someone else stated, resources are owned by the Australian nation and mining companies are given the right to exploit them and pay royalties (taxes) to the federal and state governments.
#5
Banned
Joined: Feb 2009
Posts: 1,855
Re: Who owns the mines in Australia? China?
Aussie companies like BHP and RIO also own plenty of mines in overseas countries, Even if overseas countries like CHina own mines in OZ, doesn't OZ still benefit from taxs and royalties they have to pay?
#7
Re: Who owns the mines in Australia? China?
Australia lacks the necessary scale of secondary and tertiary industry to fabricate goods from our raw materials. It's also very expensive. That's why we sell our primary products overseas and buy them back again in the form of commercial products.
The one resource we need to stop selling (or at least sell less of) is uranium. We need to build some nuclear power plants and start taking advantage of the fact that we own 20% of the world's uranium deposits.
#8
Re: Who owns the mines in Australia? China?
We make more money.
Australia lacks the necessary scale of secondary and tertiary industry to fabricate goods from our raw materials. It's also very expensive. That's why we sell our primary products overseas and buy them back again in the form of commercial products.
The one resource we need to stop selling (or at least sell less of) is uranium. We need to build some nuclear power plants and start taking advantage of the fact that we own 20% of the world's uranium deposits.
Australia lacks the necessary scale of secondary and tertiary industry to fabricate goods from our raw materials. It's also very expensive. That's why we sell our primary products overseas and buy them back again in the form of commercial products.
The one resource we need to stop selling (or at least sell less of) is uranium. We need to build some nuclear power plants and start taking advantage of the fact that we own 20% of the world's uranium deposits.
Kevvo says no to any nuclear reactors!
#9
Re: Who owns the mines in Australia? China?
Damn right. The stupid socialists/liberals running our country need to start facing up to reality and ensure our energy future - and stop beating about the bush with 'renewables'.
#11
Re: Who owns the mines in Australia? China?
How he is going to pay for them is another matter......
#12
Re: Who owns the mines in Australia? China?
China has comparativly little interest in investments in Australian mining. The USA and UK are far bigger, as are several other countries including South Africa. Likewise, China has bigger investments tied into a lot of countries other than Australia.
It is just that it has been prevelant of late because China needs to maintain supplies as it goes through growth and at the same time other countries have not been in a financial position to do so. The reality is mining and exploration is incredibly expensive and it needs international funding to continue
It is just that it has been prevelant of late because China needs to maintain supplies as it goes through growth and at the same time other countries have not been in a financial position to do so. The reality is mining and exploration is incredibly expensive and it needs international funding to continue
#13
Re: Who owns the mines in Australia? China?
Whenever I open THE AUSTRALIAN, another miner is partly or fully sold to a Chinese based company.
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
although not chinese then, but I do remember a lot of people being a bit miffed that the americans had such a big say in that exploration.
Barney
#14
Forum Regular
Joined: Jan 2010
Posts: 188
Re: Who owns the mines in Australia? China?
Whenever I open THE AUSTRALIAN, another miner is partly or fully sold to a Chinese based company.
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
The exceptions are companies such as News Corp,Westfield etc where they have been taken public by the people that started them.
Frank Lowy and family own around 200 million shares in Westfield,and pull in around $200 million a year in dividend income.
Sam Walton's family own around 30% of WAL-Mart and have a very large dividend income.
Twiggy Forrest has a large shareholding in FMG and so on.
The annual report will give a shareholder breakdown,very few people ever buy shares.To buy one thousand shares in Commonwealth Bank people needed to spend anywhere between $5800 (lowest price I can recall),and $63000 (record high).the breakdown will tell you that less than 1% of the population own 1000 shares in CBA.People are far happier complaining about the company than owning the company.
Market weighting gives the same order for most companies.If a pension fund has $100 billion in OZ shares and CBA makes up 10% of the market total,then they have $10 billion in CBA shares. A $50billion fund would have $5 billion and so on.
The 2 largest shareholders are usually Citibank and J P Morgan as master wrap funds for pension funds.
Australia still owns the assets,companies have the right to exploit the oil,coal or gas etc on payment of royalties and taxes etc.
China would own around 20% of rio and can avoid a full takeover bid by the creeping provisions.This means they can buy around 3% ayear without having to make a full takeover bid.Don't quote me on that,it changes,and I have not looked for a while.
The information can be found in the place where people will never look,the annual report.Why let reality spoil good stories.
Dividend income flows all over the world,your super fund will own o/seas shares just as o/seas funds will own OZ shares
Geordie downunder
#15
Forum Regular
Joined: Jan 2010
Posts: 188
Re: Who owns the mines in Australia? China?
Whenever I open THE AUSTRALIAN, another miner is partly or fully sold to a Chinese based company.
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
How many Australian mines are partly or fully owned by foreigners and what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
HSBC will own them on behalf of their pension funds,whatever they offer round the world.Blackstock (formerly Barclays global investments ) trade mining shares quite a bit.