Article from The Age this morning entitled "Albidion looking over its shouler" by Barry Fitzgerald stated
That Chinese connection works in favour of Zinifex in any shoot-out for Albidon. Zinifex boss Andrew Michelmore has a strong relationship with Jinchuan going back to his days at WMC. That was a key factor in why, of all of the groups that could have bid for Allegiance, it was Zinifex that got the job done. Jinchuan is a 10.4% shareholders in Allegiance (it is waiting on Chinese government approvals to accept the Zinifex offer) and it also has an offtake deal on production from Allegiance's Tasmanian mine.
Please remember that this is a newspaper article and any reporting in newspapers need to be read with a mind of some scepticism.
My thoughts are that the Chinese govt are currently being cautious about giving up any shares in mining companies while ever there is a poor relationship over the iron ore price. So until that is settled, I would suspect Jinchuan are not selling because they can't, even if thet wanted to.
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