Chinese nuclear company buys 70 percent of Australian uranium miner

Calls for clarity on Chinese resources investment October 29, 2009 The Australian AUSTRALIA’S policy on Chinese investment in resources has, if anything, become murkier since Chinalco’s controversial $US19.5 billion Rio Tinto rescue package fell through earlier this year, prompting renewed calls for more clarity………………

Last month, FIRB executive director Patrick Colmer said the government preferred foreign investment in undeveloped mineral deposits to stay below 50 per cent, and for investment in “major producers” to stay below 15 per cent…………..

This was followed by a decision yesterday to let China Guangdong Nuclear Power pay more than $100 million for up to 73 per cent of Perth uranium explorer Energy Metals,