phillip_k The article is true, but in the case of BRM, China seems to have taken a different action of acquiring Australian ore. Australia by not taking notice of BRM's shareholders and the past CEO, should wake up to what I think is China's new assault. They have acquired ore to the extent which could be the 4th largest iron company in AUS. and at a pittance of $1.50 plus some script. Which is different to what Michael Komesaroff article expounds. "Paying too much." Another difference so far China do not show up as the buyer. The third big difference is:- I can not see any Chinese communist party running WN. But I am not sure about the new chair. IMO China could be buying up ore to conserve their own and it is close to China. As I am now a shareholder of WN, my hope is that the share of Port Headland's facility may make them spend some money to keep it. So you can see, if what I think is correct, Michael Komesaroff thinking is out of date.
Another thing, financing QLR could be a cheap way for China to acquire mining expertise by working with Atlas.
From Michael Komesaroff article:- [Atlas Iron managing director Ken Brinsden says the Pilbara miner is focusing on building its relationships with China in the expectation that it will need Beijing's money to help fund its planned expansion. He acknowledges that China's high-profile investments in the Australian mining sector have been unsuccessful, but he insists China is "the only growth game in town" for iron ore and will continue to be Atlas's most important customer. "We are finding the Chinese are genuinely interested in being involved in our business," he says.]
WNI Price at posting:
6.0¢ Sentiment: None Disclosure: Held
