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Who owns the mines in Australia? China?

Who owns the mines in Australia? China?

Old Mar 11th 2010, 11:07 pm
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Default 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?
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Old Mar 11th 2010, 11:09 pm
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Evelin
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?
Do they buy the arms first? . . . you know, for shovelin'?
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Old Mar 11th 2010, 11:32 pm
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Evelin
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?
BHP is also listed in London and half the shareholders are at a guess
-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.
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Old Mar 12th 2010, 1:31 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Evelin
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?
Very few. There are some smaller players and Chinese companies own stakes in others (max 19% allowed) but most are Australian or western owned.
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.
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Old Mar 12th 2010, 9:05 pm
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Default 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?
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Old Mar 12th 2010, 10:34 pm
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Default Re: Who owns the mines in Australia? China?

Originally Posted by mohogony
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?
Welcome to globalization. "L'argent n'a pas de patrie".
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Old Mar 13th 2010, 12:51 am
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Smile Re: Who owns the mines in Australia? China?

Originally Posted by Evelin
what impact does it have for Australians in the future if the speed by which natural assets are sold continues?
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.
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Old Mar 13th 2010, 1:29 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Vash the Stampede
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.

Kevvo says no to any nuclear reactors!

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Old Mar 13th 2010, 2:05 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Vash the Stampede
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.
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'.
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Old Mar 13th 2010, 2:11 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Amazulu
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'.
Unless they are somehow connected to the coal industry?

Ooops, did I say that out loud?

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Old Mar 13th 2010, 2:17 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by temptininnit
Unless they are somehow connected to the coal industry?

Ooops, did I say that out loud?

I don't like G Brown and his socialist government but to give him his due he is pushing ahead with a new generation of nuke power stations - thereby guaranteeing the UK's energy future.

How he is going to pay for them is another matter......
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Old Mar 13th 2010, 3:26 am
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Default 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
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Old Mar 13th 2010, 7:02 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Evelin
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?
I guess the same question would have been asked 40 years ago about who ownes North Sea Oil. If you pile the money in and take the risks, you get to have a huge stake in the profits and a big say in the company that does the exploration.

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
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Old Mar 14th 2010, 7:03 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Evelin
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?
Most companies are "owned ' by super/pension funds,they own the most shares.Usually the top 20 shareholders are the same ,and usually in the same order.

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
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Old Mar 14th 2010, 7:22 am
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Default Re: Who owns the mines in Australia? China?

Originally Posted by Evelin
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?
JUst checked for CBA and HSBC own 12.51% of the shares.Mining company reports should give the same info.

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.
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