Chinese investments in Australian resources

Anshan Iron & Steel: paid $39 million in September 2007 for 13% of iron ore miner Gindalbie and signed $1.8 billion joint venture deal.

Baotou Iron & Steel: bought 10% of Centrex Metals and has 50% interest in Bungalow project.

Centrex: Wuhan Iron and Steel would invest $180m for a 50% share in five of its iron ore tenements on the Eyre Peninsula. WISCO will also take a 15% stake in the company for N ssirionL $9.7mil. It is Centrex's second major Chinese partner - the company is 10.12% owned by Chinese state owned steel maker, Baotou Iron & Steel Group.

Chalco: in September 2007 Queensland government awards rights to develop $3 billion bauxite project near Aurukun, but Noel Pearson is loudly complaining about the dealings with the local indigenous community.

Chinalco spent $15.5 billion for 9% of Rio Tinto shares in London on February 3, 2008, and has now received approval from Wayne Swan.

China Iron & Steel: The Rio Tinto-operated Channar iron-ore mine in the Pilbara has a capacity of 10mtpa and is 40% owned by China Iron and Steel, an investment worth well over $2 billion. Has also bought 19.9% stake in Apollo Minerals.

China Metallurgical Group: received FIRB approval to buy the Cape Lambert Iron ore project in WA for $400 million, but then controversially on-sold control to a Russian company.

China Petrochemical Corporation: China's biggest energy distributor has just secured 60% control of the Puffin oil field in the Timor Sea from the struggling AED Oil in a deal that values the assets at $1 billion.

CNOOC: holds a 25% share in China LNG, a new joint venture within the existing $19 billion North West Shelf structure that diluted the other six joint venture parties down to 12.5% each.

CITIC: paid more than $400 for its 22.5% stake in the Portland Alumium Smelter in the 1990s and spent $113m in July 2007 lifting its stake in Macarthur Coal stake from 11.6% to 19.9%, which is already showing a big profit as the stock continues to surge on takeover speculation.

Haoning Group: bought 9.6% of Jupiter Mines.

Jiangsu Shagang: Chinese still mill which owns 10% of BHP's Wheelarra iron ore mine near Newman in the Pilbara which produces 12 million tonne per annum.

Jilin Tonghua Iron & Steel: bought 10% of IMX Resources.

Maanshan Iron & Steel: Chinese still mill which owns 10% of BHP's Wheelarra iron ore mine near Newman in the Pilbara which produces 12 million tonne per annum.

Shanghai Baosteel Group: owns 46% of the Rio Tinto-operated Eastern Range iron ore mine in Pilbara which produces 6.5 million tonnes a year worth more than $500 million a year. Chinese investment now worth more than $1 billion.

Shenhua Group Corp: China's biggest coal company was lining up for NSW power privatisation and then paid $300 million to the Iemma government for the right to explore for coal on a 190 square kilometres near Gunnedah.

Shougang Corp: spent $400 million buying 20% of WA iron ore company Mt Gibson Iron in early 2008 and spent $56 million in March 2007 buying 13% or iron ore developer Australian Resources, also agreeing to fund $US2.1 billion development of the Balmoral South project and associated port project in WA. Bought 20% of Prosperity Resources.

Sinosteel: spent $100 million for 10% of WA iron ore hopeful Midwest Corp in early 2008 and board has now agreed to a $1.37 billion bid priced at $6.37 a share. Has also bought a 2.4% stake in Murchison Metals.

Consortium: five Chinese companies were given FIRB approval in January 2008 to fund $3 billion Oakajee port and rail project in WA.

Tangshan Iron & Steel: Chinese still mill which owns 10% of BHP's Wheelarra iron ore mine near Newman in the Pilbara which produces 12 million tonne per annum.

Western Mining: Chinese company which bought 10% of FerrAus.

Wuhan Iron & Steel: Chinese still mill which owns 10% of BHP's Wheelarra iron ore mine near Newman in the Pilbara which produces 12 million tonne per annum.

Xinwen Mining: has agreed to pay a staggering $1.5 billion for Linc Energy's Bowen Basin coal tenements in Queensland.


Check out all the Mayne Report business lists here. Anyone who emails through 5 corrections or additions to stephen@maynereport.com will get a free three month subscription.