China targets Pilbara magnetite

THE latest incursion of China into the Australian resources sector involves CITIC Pacific buying two Australian iron ore companies ahead of development investments worth $US2.5 billion and first production in 2009.

China targets Pilbara magnetite China targets Pilbara magnetite China targets Pilbara magnetite China targets Pilbara magnetite China targets Pilbara magnetite

CITIC is to buy Sino-Iron and Balmoral Iron for $US425 million from Mineralogy, a company associated with Clive Palmer.

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