China drops axe on mine spend after 'interference'

Social, legal and health issues related to unrestrained expansion of coal mines in Australia.

China drops axe on mine spend after 'interference'

Postby HVPA_research » Sun Apr 29, 2012 10:35 pm

China drops axe on mine spend after 'interference'

THE Chinese government has delivered a damning verdict on doing business in NSW, pulling the plug on a planned $10 billion in mining-related investments across Australia.

The Shenhua Group, which has spent $600 million developing a coal mine in Gunnedah, in northern NSW, will no longer pursue plans to spend a further $9 billion across the country, The Sun-Herald has learnt.


Read more: http://www.smh.com.au/nsw/china-drops-axe-on-mine-spend-after-interference-20120428-1xrja.html#ixzz1tQfEGplq,
https://twitter.com/#!/HVPA_NoCSG/status/196563705654288384

The whole tone of this article is that we should not upset China because otherwise they could go digging coal in Africa rather then on the prime prime agricultural land of the Liverpool Plains in NSW. We understand the position of the foreign investors. It must be very hard for a Chinese government official to understand that in some parts of the world local people can protest against destruction of their land but that's democracy. Mining Australia by foreign companies, where most of the profits go overseas. is not the only way for this country to survive! We are supposed to be a clever country.

*Response from Liverpool Plains *
http://www.smh.com.au/nsw/china-drops-a ... 1xrja.html

Shenhua is pulling out of Australia to invest in Mongolia and Africa according to SMH. Not clear where it leaves the mine on the Liverpool Plains. Stoner is aghast. Suggest that the Chinese economy is not as great as we are led to believe.

Sorry if you have received this a thousand times but I was so excited I overloaded the computer.




BACKGROUND
This is a major political and economic development yet a quick Google search revealed that most media sources simply re-printed the original SMH news items. So far there was no analysis and no in-depths comments. Perhaps these old articles might be of some relevance:

[url]Food for thought: Bob Brown attacks China land grab[/url] Matthew Franklin and Joe Kelly. From: The Australian, June 30, 2011 12:00AM

GREENS leader Bob Brown has demanded a review of foreign investment rules, accusing the government of putting coal sales ahead of food security by allowing foreign miners to buy prime agricultural land.

And while the government has ruled out a review, Labor's hand-picked climate change adviser, Ross Garnaut, supported by the opposition, has backed an objective analysis to assess threats to the viability of farm communities and the nation's level of food production.

Earlier this week, The Australian revealed that Chinese state-owned mining giant Shenhua Watermark Coal had bought large areas of coal-rich farmland in the Liverpool Plains area in northern NSW. The company has spent about $200 million on the purchases and has secured enough coal deposits to sustain a 30-year mining operation.


Nationals Senate leader Barnaby Joyce agreed with Senator Brown. "Even a stopped clock is right twice a day," he said.
"It would be better to knock down the Sydney Opera House to build a mine than to give up prime agricultural land. You can rebuild the Opera House, but once you destroy prime agricultural land, it's gone. You have to be super-cautious about how you deal with prime farm land, which is Australia's agricultural opera house."



RBA warns on anti-foreign sentiment

Gillard 'buckling to billionaires', says Bob Brown

Brown's xenophobia will cost us dearly
HVPA_research
 
Posts: 588
Joined: Thu Jun 18, 2009 10:26 pm

Return to Coal Mining Expansion

Who is online

Users browsing this forum: No registered users and 1 guest

cron