China’s efforts to gain a greater stake in Australia’s resource industry suffered a new setback yesterday when a Chinese miner dropped a US$400 million bid for a controlling stake in an Australian rare earths miner.
Earlier yesterday, the Australian defense department rejected a separate Chinese investment in an outback mining venture, saying it threatened national security.
China’s latest failed attempt to gain a larger slice of Australia’s raw materials will upset the already strained ties between Canberra and Bejing.
China is Australia’s biggest export market, with trade worth US$53 billion last year, but ties soured in August when China arrested an Australian mining executive and Canberra granted a visa to exiled Uighur leader Rebiya Kadeer.
China Nonferrous Metal Mining (Group) Co Ltd (CNMC) terminated its bid for Lynas Corp, owner of the world’s largest undeveloped deposit of rare earths, citing stiff conditions imposed by Australia’s Foreign Investment Review Board.
There is strong public and political opposition in Australia to China’s moves to gain a greater hold of its resource industry.
Australia’s Defense Department said yesterday that it would not support a proposed joint venture between Wugang Australia Resources, a wholly owned unit of Chinese state-owned Wuhan Iron and Steel, and Australia’s Western Plains Resources.
The proposed deal would have seen Chinese magnetite resource investment inside the outback Woomera missile range, used as a weapons-testing ground by the military and Australian allies.
The military’s lack of support means there is virtually no chance that approval will be given.
Australian Defense Minister John Faulkner said the defense department’s rejection of the deal had nothing to do with China, but was purely a security issue.
“The Woomera test range is a significant contributor to Australia’s defense capability, and that of our allies, and that’s the focus that defence brings to bear on these issues,” he said.
The Ministry of the Interior (MOI) is to tighten rules for candidates running for public office, requiring them to declare that they do not hold a Chinese household registration or passport, and that they possess no other foreign citizenship. The requirement was set out in a draft amendment to the Enforcement Rules of the Public Officials Election and Recall Act (公職人員選舉罷免法 ) released by the ministry on Thursday. Under the proposal, candidates would need to make the declaration when submitting their registration forms, which would be published in the official election bulletin. The move follows the removal of several elected officials who were
The Republic of China (ROC) is celebrating its 114th Double Ten National Day today, featuring military parades and a variety of performances and speeches in front of the Presidential Office in Taipei. The Taiwan Taiko Association opened the celebrations with a 100-drummer performance, including young percussionists. As per tradition, an air force Mirage 2000 fighter jet flew over the Presidential Office as a part of the performance. The Honor Guards of the ROC and its marching band also heralded in a military parade. Students from Taichung's Shin Min High School then followed with a colorful performance using floral imagery to represent Taiwan's alternate name
FOUR DESIGNATED AREAS: Notices were issued for live-fire exercises in waters south and northwest of Penghu, northeast of Keelung and west of Kaohsiung, they said The military is planning three major annual exercises across the army, navy and air force this month, with the navy’s “Hai Chiang” (海強, “Sea Strong”) drills running from today through Thursday, the Ministry of National Defense said yesterday. The Hai Chiang exercise, which is to take place in waters surrounding Taiwan, would feature P-3C Orion maritime patrol aircraft and S-70C anti-submarine helicopters, the ministry said, adding that the drills aim to bolster the nation’s offshore defensive capabilities. China has intensified military and psychological pressure against Taiwan, repeatedly sending warplanes and vessels into areas near the nation’s air defense identification zone and across
COVETED PRIZE: The US president would be a peace prize laureate should he persuade Xi Jinping to abandon military aggression against Taiwan, William Lai said US President Donald Trump should get the Nobel Peace Prize should he be able to convince Chinese President Xi Jinping (習近平) to abandon the use of force against Taiwan, President William Lai (賴清德) told a conservative US radio show and podcast in an interview. The US is Taiwan’s most important international backer, despite the absence of formal ties, but since Trump took office earlier this year he has not announced any new arms sales to the nation. Trump could meet Xi at the APEC summit in South Korea on Oct. 31 and Nov. 1. Lai, speaking on The Clay Travis and Buck Sexton
RSS