What will this mean to the miners RSPT? no wonder the Government wanted to get its hand on some of this money...
so who owns Australia now?
announcement:
China to invest billions in Australian energy, resource deals
* From: AAP
* June 21, 2010 12:59PM
CHINESE companies will build mines, railways and port facilities in Australia under a series of billion-dollar resources deals signed in Canberra.
Chinese Vice-President Xi Jinpeng inked the deals in meetings with Prime Minister Kevin Rudd.
China is Australia's largest trading partner, and its thirst for iron ore and natural gas helped keep Australia out of the global recession.
Mr Rudd said the 10 deals focused on resources and energy.
"This demonstrates the dynamic relations between the two countries in this sector, and the strong complementarity of the two economies," he said.
Under one deal, Chinese companies will help fund a $US8 billion ($9.1 billion) coal mine, railway and coal-loading terminal near Bowen in Queensland.
Mr Rudd said that deal would yield $4 billion in exports each year for 25 years.
Another deal commits Chinese experts and engineers to work on the expansion of Fortescue's iron ore projects in the Pilbara region of Western Australia, which Mr Rudd says will be worth $5 billion a year in exports.
Fortescue boss Andrew "Twiggy" Forrest is a vocal opponent of the Government's proposed new mining tax.
China Development Bank will provide $US1.2 billion for a joint venture to build a new port and rail facilities at Oakajee in Western Australia, and invest in Aquila's coal and iron ore projects in the Pilbara.
Not all of the deals involve resources.
A new quarantine arrangement will allow for Tasmanian apples to be exported to China, while other deals aim at cooperation in education and telecommunications.