from todays Australian.Mining & Energy China Mining Association...

from todays Australian


.Mining & Energy China Mining Association urges steelmakers to buy into Australian mines by: Matt Chambers From: The Australian August

THE China Mining Association has called for Chinese steelmakers to take stakes in Australian iron ore mines, saying cheap Chinese production and high raw materials prices are unstainable.
Wang Jiahua, CMA executive vice president, told a Melbourne Mining Club lunch that Australia and China needed to co-operate more and that Chinese investment in Australia had fallen because of a confusing mining tax, poor infrastructure and labour and indigenous issues.

"The key to China's steel industry and Australian ore supplier cooperation is to find a balance between the interests," he said. "Can the two sides discuss and perhaps adopt a cross-shareholding approach to establish a long-term mutually beneficial China-Australian iron ore partnership?"

Following today's revelation in The Australian that China's premier had urged BHP Billiton chief executive Andrew Mackenzie to lower commodities prices, Mr Wang said there was a "lack of a fair mineral pricing mechanism”.


BHP Billiton's new chief has stared down a request from the highest levels of China's new leadership for lower iron ore prices. . .China trade beats forecasts

CHINA'S exports rose 5.1pc in July on-year, while imports climbed 10.9pc, both beating expectations with a sharp improvement. . .Productivity boost will keep us at No 1

THE resources economy last year accounted for 18pc of gross value add, or $250bn of the nation's output. ...End of sidebar. Return to start of sidebar.
"It is hard to imagine whatever the Chinese sell will be cheap, whatever the Chinese buy will be expensive," he said.

.