Wheres can this UPI article be found that everyone keeps referring to??
The Drudge report times out.
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How's your Chinese?
FYI... appearing on a Chinese website, published a few days ago.Can African iron ore replace Australia?
2022-07-09 11:45:17 Source: Xiaomi Celebrity Lane
Sichuan #1
China's strategic layout of relying on African iron ore and gradually reducing its dependence on Australian iron ore has recently taken a solid step. This step comes as Chinese companies come close to taking control of the Mbalam-Nabeba iron ore project, which straddles the border between Cameroon and Congo.
The Mbalam-Nabeba iron ore mine is located on the border between Cameroon and Congo, of which Mbalam is located in Cameroon and Nabeba is located in Congo.
According to the 2015 exploration report, the iron ore reserves are estimated to be 5.64 billion tons, of which 805 million tons are high-grade iron ore. It is a world-class large-scale high-quality open-pit iron ore.
Australia's Sundance Sndance signed contracts with the governments of Cameroon and Congo to mine these two iron mines in 2012 and 2014, respectively. According to the agreement, Sundance plans to invest A$8.7 billion in mine development, a new 510-kilometer railway and a wharf.It is planned to mine in two phases. The first phase will mine 40 million tons of iron ore annually with a mining life of 12 years. The second phase produces 35 million tons of high-grade iron ore per year, with a mining life of 15 years. Both iron ore mines are planned to be sold to China.
However, Sundance was weak and the project progressed slowly over the years. Sundance has proposed a cooperative development agreement with Australian Orsino AustSion. The conditions of cooperation are: Orsino will invest 100 million Australian dollars and invite a series of Chinese companies to participate in the construction of mines, railways and ports.
AustSion is an Australian company but many of its directors have strong ties to a number of Chinese companies.But the two Australian companies, Sundance and Orsino, have been at odds for a long time, and both were delisted from the ASX in December as talks broke down.
The governments of Congo and Cameroon are unhappy with the prolonged stagnation of Sundance Australia.Congo announced on November 30, 2020, the withdrawal of mining licenses from Australia's Sundance Resources, Equatorial Resources and Britain's Avima. The Congolese government handed over the mining rights to a Congolese company called Sangha Mining Development Sasu, which was later confirmed to be an entity controlled by Hong Kong-registered Bestway Finance.
In May 2021, Cameroon's Minister of Minerals, Industry and Technology Development (NdokeGabriel) announced that it would cooperate with five companies including China Metallurgical Corporation, China Railway Construction, Shenzhen Yantian Port, Baowu Group, and Shanghai Qingshan Group to develop domestic iron ore projects.
At the end of June, the Cameroonian government, Hong Kong-registered BestwayFinance Financial Company and Australia's Orsino Company signed a memorandum to jointly develop iron ore projects. Australia's Orsino Company will introduce China Metallurgy, China Railway Construction, Yantian Port, Baowu Group, Shanghai Qingshan Group, Australian media have reported that Australian companies with Chinese backgrounds have beaten Australian companies and helped Chinese companies obtain mining rights for iron ore in Africa.In this regard, Sundance and Avima, which have lost the right to operate iron ore mines, have filed an international commercial arbitration with the Congolese government.
However, public opinion believes that these lawsuits cannot change the fact that Chinese companies have actually obtained these iron ore mining rights. Public opinion, including Australian media, has made solid progress in the strategic competition of African iron ore distribution.
#2
Not only is China fiercely competing with Australia in Cameroon and Congo, Chinese companies are also working with Rio Tinto, the Guinean government, in Africa to develop the Simandou iron ore mine. It is estimated that the mine can supply China around 2025.
In addition, with the rapid rise of iron ore prices, Chinese companies have also expanded their efforts to develop the Xintang Mine project in Sierra Leone.
In July last year, the Lowy Institute for International Policy, an Australian think tank, pointed out: “Chinese state-owned and private enterprises have invested heavily in African iron ore.
Even if a newly developed African iron ore project will take several years and a lot of money, this will not deter China, which is good at playing the long-term strategic game.
According to Australian statistics, in March this year alone, Australia's iron ore exports to China reached 14 billion Australian dollars, setting a single-month export record.
While Australian barley, beef, wine, coal and other commodities have all but lost the Chinese market, rising iron ore prices have offset most of the export losses in other industries. Perhaps this is the main reason why Australia is still tough after being severely sanctioned by China.
#3But that is gradually changing. Although Australia has been quite successful in controlling the epidemic so far, and Australia's current economic and employment situation is very good, it should be seen that these results are closely related to the large amount of relief funds issued by the Australian government to enterprises and individuals. Gold has a negative impact on the future of the Australian economy that cannot be ignored.
Australian Treasurer Frydenberg released the fifth report on generational development in Australia on June 28.
The report forecasts a grim economic outlook for Australia over the next 40 years, facing slower economic growth, higher government spending, rising deficits and debt, and slower population growth.
Unlike the US, Australia cannot pass the crisis on to the world by printing money. Therefore, exports of iron ore and other Australian products are particularly important to the Australian economy.
Therefore, all circles in Australia are very sensitive to China's iron ore layout in Africa. Australia will have to adjust its strategy towards China as the possibility of Chinese access to African iron ore continues to materialise.
#4
There have indeed been signs of such a change recently.
Fifty years ago, on July 3, Whitlam, then the leader of the opposition Labour Party, led a delegation to visit Beijing, which had no diplomatic relations. This move was slammed by the Australian government at the time, and even called him "treason".
But a few days after Whitlam returned to Australia, the Nixon administration announced Kissinger's secret visit to China. Whitlam was elected prime minister in 1972 and visited China again in 1973 to establish diplomatic relations with mainland China. He is known in Australia as the "father of China-Australia relations".
Today, however, 50 years later, Australia-China relations have fallen to a 50-year low. In the past few days, there have been more articles in Australian media discussing Whitlam's visit to China. Perhaps the economic pressure will push the relationship between Australia and China to a low point.
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Translated source:
https://www-163-com.translate.goog/dy/article/HBR5BTJ50552155H.html?f=post2020_dy_recommends&_x_tr_sl=zh-CN&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc -
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