chinese are taking the tax in its stride

Australia's super-tax on miners fails to deter Chinese investments

http://www.chinadaily.com.cn/bizchina/2010-05/05/content_9810543.htm

Sinosteel is not mentioned in the article, but it does suggest the big Chinese companies will take this in their stride.

I have posted before about the implications of the Sinosteel MOU at this point. Yes it is non-binding, but we have China's largest Steel mill wanting our ore.

Let's take some justified comfort from that at this point in time.

I regard the MOU as fortuitous and important as WR's 2.50 capital raising a couple of months prior to the 2008 GFC is potentially assisting BRM through Rudd's devastation to the industry.