saving aussie resources for aussies, page-26

upzhao Sorry but we are not talking about minority shareholders buying stocks all around the world. have you actually tried as a retail investor. Well I have , in UK you cannot open a bank account anymore unless you have a residential address in the UK, Try to open an account at TDAmeritrade in USA. Used to be able to now they decline it.

The topic title is probably too narrow. The concerns started about the fact that there are strategic resources that should remain in the control of the sovereign nation. This stock having a significant asset and that it would have sold out a major portion at cheaper than it raised capital here.

You are incorrect in stating that you can purchase the shares on market you have to get approval from the FIRB to go above certain percentages as I understand it.

Likewise you as a foreigner would have to get approval to buy property here.

It maybe shouldnt be on the LYC thread although LYC is seen as having a very strategic asset that China has a signifcantly large influence over the market for this group of products and has at times postured in a way that suggests that they wouldnt want these resources (their own coming from Chinese mines) sold to foreign buyers.

It is becoming a very important debate as you could by its nature end up with parties controlling industries in any country that are so critical as to give them undue influence over that country. Businesses have become in places so large that their combined asset base exceeds that of a number of smaller countries.

I wouldnt be comfortable if say BHP could exert undue influence over any small sovereign nation and as such I wouldnt want that to happen to us.

If we accept the inevitability of a Global nation than that has significant implications for us as a nation and I would like some guidance and debate before we just let it happen. I for one don't trust any form of bureaucracy to do what is right for anybody and I distrust the motives of politicians.

It is IMO a very important debate.

It is important for LYC as the market for certain of these products is very strategic and it may command a very real premium price because of its nature.