Got to wonder how much communication goes on in China in regards to buying up and taking stakes in Pilbara Iron Ore companies.
Wish our government would wake up and stop selling our future to foreigners like the Chinese. It will be to the detriment of Australians in terms of jobs, taxes and opportunity because Ive no doubt they will try to screw us on all those fronts.
Dont forget these comments from the SinoCast website..
"The Australian iron ore producer's new management prefers to cooperate with Chinese steel producers rather an iron ore trader and also wants to introduce several infrastructure construction companies to form an investment consortium, said a source close to the Australian iron ore producer."
"The potential partners include Chinese steel makers Shandong Iron and Steel Group, Wuhan Iron and Steel (Group) Corp. as well as China Railway Material Group Co. and China Metallurgical Construction Engineering Group Co. that are well experienced in infrastructure construction in Australia."
"The source reveals that Wah Nam International Holdings hopes to form an investment consortium comprising Marillana iron ore mine, steel mills and infrastructure constructers to develop the project."
Wah Nam doesn't even want to use Australian labour to build the mine from the sounds of it!!
As a Boilermaker by trade, this really hits a nerve with me.
BRM Price at posting:
$2.40 Sentiment: Buy Disclosure: Held
