Spot on Anatol.Was against that too. I generally write off as an...

Spot on Anatol.
Was against that too.
I generally write off as an investment any Co that ends up with substantial Chinese investment - ARU was the first one I dumped (at a substantial profit luckily)

I am constantly amazed by Australian businesses(and Govt) complete lack of understanding of PRC investment strategies, or maybe Oz business leaders are just plain stupid as you said.
The need to stop thinking in the old school economic, free market ways.

PRC based investors ARE NOT necessarily interested in the companies, only the resources.
And the subsequent use of these resources depends on strategic goals across the entire Chinese economy, not just within the relevant commodity sector. So a profitable mine might be mothballed because of factors in another industry - REEs is a great example.
Attempts to create Iron ore oversupply is another.

Its all pretty straight forward if you ask yourself some simple questions e.g.
Would PRC companies get in a bidding war with each other over a resource?
Would a PRC company with a strategic resource maximize the price for the benefit of ALL shareholders at the expense of downstream PRC companies?

And now we also have to deal with the latest ploys to get around FIRB rules, the mass buy up of exploration tenements (ENT, AIV...) and the use of surrogates (PRC stooges with Oz citiznship and Oz based companies - but sourcing their funding from the PRC Govt).

Maybe the FIRB should grow a pair and place a flat 20% limit with NO board representation. And apply it to ANY country who has a complex relationship between the private and govt sectors (Russia is another example).
Sure it would hurt in the short trem, but otherwise we are trashing the countries future potential.
Though that wont solve the surrogate issue.