uae investing in aust mining companies

Afternoon all , another Quiet Day and and looking forward to the drilling news thats just around the corner

This Article is a bit old ( Jan 2010) but makes good reading . Especially this part

"Royal Falcon has opened up much larger opportunities for us," he says. We're now looking at mineral investments which are worth potentially hundreds of millions of dollars"
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From Mining and Resouces - 19/01/10

China isn't the only country sinking money into Australian mining companies.

Abu Dhabi in the United Arab Emirates is also in on the action.

A partnership between Golden Rim Resources the Abu Dhabi-based Royal Group is going from strength to strength.

The alliance was formed in July 2008.

Since then Royal Falon has conducted detailed assessments on gold, base metal and iron ore projects in Sudan, Ethiopia and Eritrea.

Its first major project is to reopen an old gold mine in Sweden.

"I suppose if you look at the industry you really don't see a lot of players from the Middle East that have been looking for mining projects in Australia," says Craig Mackay from Golden Rim Resources.

"They've traditionally looked at other investments and industries, but certainly in our experience I think that's going to change.

"When we met the Royal Group our market capitalisation was about $3 million.

"Since that time our company has grown tenfold in market capitalisation and we're really just beginning to look at opportunities."

Mr Mackay says it's an exciting time for the exploration company.

"Royal Falcon has opened up much larger opportunities for us," he says.

"We're now looking at mineral investments which are worth potentially hundreds of millions of dollars.

"Where as when we were a junior company on the ASX we'd be lucky to look at anything near that size."