Sinosteel encouraged to invest in Western Australia mines
Saturday, 25 Jul 2009
Xinhua reported that Mr Colin Barnett Western Australia Premier has encouraged Chinese steel-making giant Sinosteel Corporation to invest more in the state's mining companies.
Mr Barnett is in China to spur on the Asian superpower to invest in a new iron ore export port at Oakajee in the state's Midwest region and met Mr Huang Tianwen Sinosteel president on Wednesday.
Mr Barnett said in a statement that "I made it known that the WA state government would be supportive of Sinosteel increasing its share in other WA mining companies."
He said the joint venture provided an unprecedented opportunity for truly Western Australian-Chinese-Japanese investment collaboration. He added that I am keen for Chinese companies to be involved in the construction and development of both the port and railway infrastructure.
Sinosteel could increase its stake in iron ore miner Murchison Metals Ltd which is developing the Oakajee port and associated rail through its joint venture company with Japan's Mitsubishi Corporation, Oakajee Port and Rail.
