And given their huge appetite for Australian mining and resource companies it is not surprising. This demand is being driven by China’s ability to plan for the long term, given it is the worlds biggest metals consumer and second largest oil consumer after the US. Unfortunately, because the prices of commodities have come off so far and hence the share price of these companies, it leaves the buyers with the higher ground when it comes to negotiations.
I am not convinced that Australia’s government will allow some of our most prized mining and resource companies to picked up for a song by overseas interests and if they do we as a nation will pay for it when the next commodities boom passes us by.
