AUSTRALIA FEEDS BEIJINGS MINERAL HUNGER(the guardian weekly 22.4.11)
"china is leasing huge areas of land in australia to secure a vital source of mineral resources.No longer satisfied with buying iron ore from BHP/RIo china is developing its own mining operations funding a port with a 1.6 km long breakwater jutting into the indian ocean.citic pacifics sino iron project in the pilbara illustrates the scale of beijings ambitions.china expects to mine at least 2bn tonnes of ore over the next 25 years.the mine will become fully operational this year and be THE WORLDS BIGGEST MAGNETITE IRON ORE MINE.the ore will be processed on site and brought to china on a fleet of purpouse built container ships!.in return australia is guaranteed a steady stream of royalties and taxes.the project will generate thousands of australian jobs.china will provide finance and management but not labour.THE DEALS BIGGEST WINNER WILL BE CLIVE PALMER WHO HOLDS THE LEASE ON THE MINE.HIS PARTNERSHIP WITH CITIC IS ONE BIG REASON WHY HE IS CLOSE TO THE TOP OF AUSTRALIAS RICH LIST.ACCORDING TO PALMER HIS MINING ALLIANCE WITH THE CHINESE HAS BARELY BEGUN.HE CONTROLS THE MINING RIGHTS TO LAND THAT CONTAINS 160BN TONNES OF IRON ORE-100 TIMES GREATER THAN THE GLOBAL OUTPUT LAST YEAR.PALMER COMMUTES BETWEEN AUSTRALIA AND BEIJING BY PRIVATE JET AND HAS FRIENDS AT THE VERY TOP LEVEL OF THE CHINESE GOVT.CHINESE BANKS TRUST HIM.LAST YEAR THE IMPORT-EXPORT BANK OF CHINA MADE A 5BN LOAN TO A PALMER QUEENSLAND COAL PROJECT.THREE HUNDRED MILLION PEOPLE ARE MOVING FROM THE COUNTRYSIDE TO THE CITIES IN CHINA.THE DEMAND IS IN THE PEOPLES REPUBLIC OF CHINA".
CLEARLY CITIC IS A TEMPLATE FOR ARH.EVERYTHING PALMER HAS ACHIEVED WITH CITIC HE WILL ACHIEVE WITH ARH.The only difference is that the port and logistics infrastructure will not have to be built.Citic is doing that already and it is right next door to the ARH pal;mer project.
Give the oustanding success of Clive Palmer with Citic and indeed with everything he touches I find it ludicrous that a cabal(or maybe its really only one loser with multiple anonymous accounts)of mental cupcakes(you know who you are) with malicious intent,discredit this forum with their infantile and contrived downramping.The ad hominem filth hurled at Clive Palmer is particularly irrational and distressing.THE QUESTION IS,WHY?
ARH Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
