A GIANT Chinese coal company is apparently prepared to pay about $600 million to explore for coal near Gunnedah, outbidding BHP Billiton, Xstrata and at least four more Hunter coal companies in the process.
The China Shenhua Energy Company bid for the Watermark exploration area has stunned the coal industry...
Federal Treasurer Wayne Swan expressed concern recently about the amount of Chinese investment into Australia's resources sector, and the China Shenhua bid for Watermark is but one of these potential investments.
Watermark is next to the Caroona exploration area, where about 300 farmers and their supporters ran a blockade last week to keep BHP Billiton from drilling on private property.
Chinese giant's $600m coal bid
29/07/2008
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