On the Cusp of Rio Tinto Drama China goes for the Plunge

for Felix Resources Pty Ltd 

- China's state-owned Yanzhou Coal is expected to make a bid for Australian coal miner Felix Resources Pty Ltd that would value the Brisbane-based company at 3.5 billion Australian dollars (2.8 billion US dollars), news reports said Tuesday. Any attempt to block or fix conditions to the bid would further strain relations between Australia and its biggest trading partner,

The Australian newspaper said.

http://www.earthtimes.org/articles/show/280912,china-mulls-bid-for-australian-coal-miner.html

 Felix Resources Pty Ltd ..who are they, what do they mine?             Coal, metallurgical coal used in Steel Production? Is it easier to import this coal than mine the small China Mines.  Is there an work deal where they can bring in their workers too? 

See what this offer says at:  13/08/2009 -- 20090813_Cash_Offer_From_YZ.PDF

A map showing the planned mine 420 x 368 - 58k - jpg business.brisbanetimes.com.au

Clive Palmer has bought the Yabulu nickel refinery in Townsville. (ABC TV News - file image)

Was Clive Palmer listed with the Courier Mail as the first of the first 100 Qld Rich List..

Even if this wretched business goes under,  he will still have a few billion on hand..

Publishing Date

16 Feb 2009 10:37am GMT

Author

Mining Journal

Chinese state-owned metals trader Minmetals agreed to buy Oz Minerals Ltd, the world's No.2 zinc miner, for US$1.7 billion, the second Chinese resources firm to come to the rescue of a debt-laden Australian miner in less than a week.

p.s. these pictures probably won't remain, once the system discovers they are copied.. Go to the web page quoted and view full article there..

http://www.mining-journal.com/finance/chinas-minmetals-offers-$1.7-bln-for-oz-minerals

http://images.google.com.au/images?gbv=2&hl=en&sa=1&q=-+China%27s+state-owned+Yanzhou+Coal+&btnG=Search+images&aq=&oq=china+buys+more+qld+mines&start=0