"Chinese investors have added another 50,000 hectares to their Australian property portfolio, taking the total area of property under Chinese control to more than 9.1 million hectares amid growing concerns over foreign interference and national security." ( source: SMH 20th Dec 2018)
There are obviously ways in which the Chinese are circumventing the regulations , otherwise they would not have grabbed 9.1 million hectares of Aussie land already and, besides, a takeover deal could readily separate the land title from the mining business and mining rights valueing the land only at what IMA paid for it two years ago. Let's face it, apart from mining value, the ag value of Boonanarring land would be in hundreds of thousands, not millions!
The Chinese bid on the Kidman Properties for about $300 mil was knocked back because some of the property adjoined our Woomera rocket range not because of foreign ownership regulations.Ms Reinhard now owns it and who knows what Chinese deal is embedded in that and her Iron ore mine?
Perhaps a long holding IMA shareholder could tell us what IMA paid for the land two years ago?
A good barrister will tell you that there are many ways to skin a cat in society...eh?
IMA Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
